MILWAUKEE, Wis. – Novozymes has signed a definitive agreement to acquire TJ Technologies, Inc. based in Watertown, S.D.
The acquisition is yet another important step in building Novozymes’ business within BioAgriculture, in the case of TJ Technologies specifically within the bioyield enhancement segment. This acquisition will further strengthen Novozymes’ position with complementary technologies and products.
The biological solutions complement the use of traditional chemicals and pesticides, which have a world market worth around $150 billion. By contrast, the emerging bioagriculture market is estimated to be worth about $1.5 billion with an annual growth rate of 10 to 15 percent.
TJ Technologies and Novozymes have agreed not to disclose the financial terms of the agreement. The acquisition does not impact Novozymes’ financial guidance for 2013.