30 January 2013 16:22 [Source: ICIS news]
LONDON (ICIS)--Monsanto has acquired the name and certain operational assets of agricultural solutions company Agradis, the US-based seed and agrochemicals major said on Wednesday.
The assets, which are being sold by energy and environmental genome specialist Synthetic Genomics (SGI) and Mexico-based investment firm Plenus, include the Agradis name and the company’s collection of crop productivity-boosting microbes. Financial details were not disclosed.
"Agradis' collection of plant associated microbes will support Monsanto's efforts to provide farmers with sustainable biological products to improve crop health and productivity,” said Monsanto research and development investment strategy leader Steve Padgette.
The deal also includes an equity investment in SGI by Monsanto, and an agricultural research agreement between the two companies focusing on improving crop productivity microbes.
The Agradis assets not being purchased by Monsanto include castor and sweet sorghum breeding and genetic optimisation technologies, as well as a product developed by the company which helps to prevent fungal growth on fruits and vegetables. Those operations will be retained by SGI and Plenus, who will run them under the banner of a new company, AgraCast.
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