By MATTHEW WEAVER
Monsanto has completed the purchase of all the assets of an Israeli plant trait company.
Based in Rehovot, Israel, Rosetta Green, Ltd., develops improved plant traits for agriculture using RNA technology. The company was formed in 2010 and specializes in identifying and using genes to guide key processes in wheat, corn, soybeans and cotton.
Monsanto paid roughly $35 million for the company, Monsanto spokesperson Kelli Powers said. She declined to comment further, saying it's premature to discuss the possible impacts on U.S. and Pacific Northwest producers.
Rosetta Green's technology complements Monsanto's existing research platforms, Monsanto said in a press release.
Rosetta Green's Israel operations will remain intact and all employees have accepted roles with Monsanto. The company will retain the Rosetta Green name as part of Monsanto, Powers said.
"Israel continues to emerge as a leader in cutting-edge technologies, and this is a great vote of confidence in our research work and scientists," said Limor Zur-Stoller, Rosetta Green's chief financial officer, in the press release.