Royal DSM acquires Verenium assets
Royal DSM has completed a deal to take control of various assets held by California-based Verenium.
Life and materials science firm Royal DSM has acquired assets and licenses relating to food enzymes from Verenium.
The deal, worth $37 million (£23 million), sees Royal DSM take control of Verenium's oilseed processing business and related intellectual property, in addition to licences for food enzymes.
Successful business negotiations mean DSM will also gain access to biodiversity libraries being created by Verenium under the terms of the agreement, while staff at Verenium - which is headquartered in California - will transfer to DSM.
DSM managing board member Stephan Tanda said the deal "fits very well" with the firm's strategy of "continued value growth for our Nutrition cluster".
President of DSM Food Specialties Hans-Christian Ambjerg added the move "is a great step in achieving our ambitious growth strategy".
Based in the Netherlands, DSM was established in 1902 as a coal mining company and is now one of the world's leading health, nutrition and materials firms.
Posted by Edel Quinn
Source: DSM press release, March 26th