Corteva Agriscience to acquire biological company Symborg
Corteva has announced it is acquiring Symborg, a biological solutions company based in Murcia, Spain. Established in 2009, Symborg offers a diversified portfolio, an emerging biocontrol pipeline, and technically knowledgeable employees.
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“Acquiring Symborg is a significant next step in Corteva’s strategy to accelerate the development of a best-in-class biologicals portfolio, as a valuable part of our integrated solutions we offer to our customers,” says Robert King, Executive Vice President, Crop Protection Business Unit, Corteva Agriscience. “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. This acquisition shows Corteva’s progression toward further establishing itself as a technology leader in this rapid growth segment.”
In recent years, the two companies have worked together through a distribution agreement to bring farmers Utrisha N and BlueN nutrient efficiency optimizers. The natural-origin biostimulants enable plants to fix nitrogen from the air and make it available to the plant, providing an alternative, supplemental nitrogen source, and potentially reducing greenhouse gas emissions.
The acquisition will enable Corteva to not only scale up Symborg's current solutions, but also new products in development.
"Supporting farmers worldwide with our cutting-edge biobased solutions has always been the Symborg motto,” says Jesús Juárez, founding partner and CEO at Symborg. “That spirit together with a highly skilled team, led us to become a key player towards sustainable agriculture. 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."
The financial terms and conditions of the agreement were not made public.