Monsanto Company (MON) Acquires Bioengineering Company Rosetta Green for $35 Million
2/5/2013 9:22:52 AM
Monsanto Co. has acquired the assets of Israeli crop bioengineering company Rosetta Green Ltd. for $35 million. Rosetta Green specializes in identifying unique genes and developing improved plant traits for the agriculture and biofuel industries. The company was spun off from Rosetta Genomics Ltd. (Nasdaq: ROSG) in 2010 and went public in 2011. The deal is pending government approval, a Monsanto spokeswoman said. The acquisition is Monsanto’s latest effort to build on its agricultural biologics platform, which includes BioDirect technology that aims to use molecules found in nature in crop protection. In late January, Monsanto bought select assets of San Diego-based Agradis Inc., a privately held company focused on sustainable agriculture solutions. Terms of the deal were not disclosed, but assets included a collection of microbes that improve crop productivity and Agradis’ R&D site in La Jolla, Calif.