March 26/San Diego/Reuters -- Royal DSM N.V. and Verenium have entered into a definitive agreement under which DSM acquires certain assets, licenses and other agreements in the area of food enzymes and oilseed processing from Verenium for a total consideration including transaction and related expenses of $ 37 million. The transaction has been completed.
The acquisition includes Verenium's oilseed processing business and IP portfolio, licenses for certain food enzymes and access to biodiversity libraries that Verenium will create using proprietary technology. The 2012 sales of these businesses are estimated at about $ 15 million, growing rapidly in the coming years.