Monday, December 4, 2006

Landec Unit Acquired By Monsanto

Menlo Park-based Landec, a firm developing temperature-activated and other specialty polymer products, said today that it has sold its direct marketing and sales seed business to Monsanto, in a deal worth $50M in cash. Landec also said it is in a five-year exclusive technology license to provide its polymer seed coating technology to Monsanto. Landec said the combined licensing and sales of its unit are worth potentially $70M. Landec's polymer products are used for food, agricultural, and other applications.