The deal, which is subject to regulatory approval, is expected to close in early 2011.
“The acquisition of Crop BioScience strengthens our global position in the growing industry for agricultural biologicals providing products that enhance the natural growth and yield of crops,” said Steen Riisgaard, CEO of Novozymes.
“We have found in Crop BioScience a company that has a strong strategic fit with our existing BioAg business. In brief, it has a complementary product range and geographical scope, a strong R&D pipeline, and very talented people.
“Together we can utilize Novozymes’ unique biotechnology platform to bring a new level of innovation to the market.”