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June 26, 2013
Novosymes acquires TJ Technologies
Novozymes (Copenhagen, Denmark; www.novozymes.com
), has signed a definitive agreement to acquire TJ Technologies Inc. (Watertown, S.D.; www.tjtechnologiesinc.com
). With annual revenue close to $15 million, TJ Technologies provides North American farmers with biological solutions designed to enhance plant growth, increase stress tolerance, and improve yields. The acquisition marks yet another important step in building Novozymes’ business within sustainable bioagriculture solutions.
The financial terms of the agreement are not disclosed. Closing of the acquisition is expected within the next week.
Biological technologies are natural solutions to improve plant health and growth, and to combat diseases across broad-acre crops such as corn and soy, as well as high-value crops like leafy greens, fruits, and vegetables. The global market for agricultural biosolutions is growing, as a rising world population increases the need for sustainable farming.
Founded in 1978, TJ Technologies Inc. develops and markets proprietary microbial and micronutrient products for agriculture. It is a significant player in the U.S. market for bioyield enhancement products, with a strong position in seed treatment of corn, as well as other important crops such as soy and wheat.