Business & Policy
Corteva Agriscience to acquire Symborg
September 22, 2022 By Top Crop Manager
Corteva Agriscience has signed a definitive agreement to acquire Symborg, a microbiological technology specialist based in Murica, Spain.
Robert King, EVP, crop protection business unit for Corteva Agriscience, said in a statement that the acquisition represents a “significant next step in Corteva’s strategy to accelerate the development of a best-in-class biologicals portfolio. Over the past three years, Corteva has established licensing and distribution agreements with the top biological companies, which we selected after evaluating technologies and demonstrating customer acceptance.”
Corteva first collaborated with Symborg to deliver the Utrisha N and BlueN nutrient efficiency optimizer in 2021. The biostimulant enables plants to fix nitrogen from the air and make it available to plants, providing an alternative, supplemental nitrogen source.
Jesús Juárez, founding partner and CEO at Symborg, said: “The integration with Corteva is an opportunity to reinforce our impact in the field helping farmers facing current and future challenges. And beyond, it is an opportunity to become the answer to safe and sustainable food that society is demanding. Symborg and Corteva share values and market vision, becoming the perfect match to design the future of agriculture.”
Closing of the acquisition is subject to customary closing conditions. Following the close, Symborg locations in Murcia, Spain and subsidiaries in the United States, Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia will become key elements of Corteva’s Biologicals Portfolio.
Financial terms and conditions of the agreement were not disclosed.