Evogene Stock Soars After ICL Deal To Acquire Lavie Bio, MicroBoost AI

Evogene Ltd. EVGN stock rallied over 20% on Monday following the announcement of an acquisition.

What Happened: The Israel-based company agreed to sell a majority of Lavie Bio Ltd., its subsidiary, to ICL.

Terms of the deal remain undisclosed.

ICL will also gain control of Evogene’s MicroBoost AI for AG platform.

This strategic acquisition strengthens ICL’s position in the ag-biologicals sector. Lavie Bio will continue its operations within ICL’s expanded structure.

Key assets to be transferred to ICL include Lavie Bio’s core team, technology platform, microbial bank, and commercial products.

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Why It Matters: The transaction builds on more than two years of collaboration between ICL and Lavie Bio, focused on developing innovative bio-stimulant solutions for agriculture.

“We believe this transaction unlocks significant value for Evogene’s shareholders,” said Ofer Haviv, CEO of Evogene. “Integrating Lavie Bio into ICL will accelerate progress in the global ag-biologicals market, driving innovation in agriculture.”

Price Action: EVGN shares are trading higher by 24.74% at $1.21 premarket Monday.

At last check, it was trading higher by almost 20.5%.

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