Dow Chemical has acquired ExxonMobil Chemical's share of US technology licensor Univation Technologies for an undisclosed sum. The deal was announced in October 2014.

Previously a 50:50 joint venture of the two US groups, Univation licenses the widely used Unipol polyethylene process and also is a leading manufacturer of catalysts for the process, which permits plant operators to swing between production of linear low density and high density PE grades.

The technology firm also develops and supplies catalysts, including UCAT Conventional, Acclaim Advanced Unimodal, XCAT metallocene and Prodigy bimodal catalysts.

Dow said the purchase of its partner's stake reflects its strategic focus on investing in businesses with strong competitive positions in attractive markets.

Univation Technologies will operate in future as a wholly-owned subsidiary of Dow, led by its president, Steve Stanley, and will continue to be based in Houston, Texas.