Croda buys Canadian marine biotechnology group and Finnish tech supplier

Speciality chemicals group Croda International has made two technology acquisitions for an undisclosed sum.

Croda has bought Canadian marine biotechnology company Nautilus and Finnish technology supplier IonPhasE.

Founded in 2007, Nautilus focuses on using marine microbial biodiversity to discover novel actives and materials. Croda said that through this acquisition and the associated patents, it will utilise this innovative science for applications across all its market sectors.

Meanwhile, IonPhasE has developed a unique range of anti-static additives that help to prevent damage to electrical components, increase the safety of chemical and food packaging and improve the long-term appearance of consumer appliances.

Chief executive Steve Foots said: "These acquisitions are very much aligned to our strategy of investing in disruptive technologies, clever people and rich intellectual property. With Nautilus as part of the Croda group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as 'blue biotechnology'.

"The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complementary technologies, will allow us to better meet the needs of our customers within our smart materials business within the performance technologies sector."

At 1425 GMT, Croda shares were flat at 4,437p.