Monsanto Co. (NYSE: MON) has completed the acquisition of Israeli company Rosetta Green Ltd.'s assets for $35 million. Rosetta Green develops improved plant traits for agriculture using RNA technology. The Rehovot-based company's experts specialize in the identification and use of unique genes to guide key processes in major crops including corn, soybeans and cotton.
Monsanto said that the company's Israel operations will remain intact and all Rosetta Green employees have accepted roles with Monsanto.
Monsanto R&D investment lead Steve Padgette said, "We're pleased to welcome the Rosetta Green team and look forward to working together on possible new applications of this exciting technology, which complements our existing research platforms."
Rosetta Green CFO Limor Zur-Stoller said, "All of us at Rosetta Green are excited to begin our work with Monsanto. Israel continues to emerge as a leader in cutting-edge technologies, and this is a great vote of confidence in our research work and scientists."
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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