NEW YORK (GenomeWeb News) - Newsham Genetics said yesterday that it has signed a definitive agreement to purchase Monsanto Choice Genetics, a subsidiary of the agricultural giant.
The transaction will be completed “as soon as practical,” Newsham said.
In a statement, Newsham said it “placed high value on the significant investment made by MCG over the past 10 years in their genomics platform.”
Newsham’s Co-CEO Mike Weaver noted that MCG has developed “the most extensive swine genomic map in the industry, with over 6,000 genomic marker associations for swine performance,” which is expected to help Newsham to “accelerate genetic progress across many different traits for the industry."
According to Newsham’s Co-CEO Brent Mitchell, MCG and Newsham are currently the second and third largest swine genetics companies, respectively. The acquisition, he said, “will create a very strong and vibrant player in the North American market with the most extensive technology in the industry.”
As part of the agreement, the companies have entered a three-year research alliance that will focus on the MCG genomics platform “to maximize the value created in the industry from these tools.”