VitalFields is being bought by Monsanto farm-tech subsidiary The Climate Corporation and marks its first step in o the European market. Terms of the acquisition price weren’t disclosed.
Monsanto’s venture capital arm had already put money into the Estonian group at an earlier funding round.
A crop seed specialist, Monsanto is currently negotiating to get its US$66bn merger with Bayer passed various regulators.
The Vitalfields deal while small gives it a stronger presence in Europe said analysts, an area that has traditionally resisted its genetically modified plants.
Story by ProactiveInvestors