Enterprise environmental health and safety (EHS) software provider Cority announced today the acquisition of sustainability Software as a Service (SaaS) solutions and advisory services provider Reporting 21.
The transaction aims to expand Cority’s ESG capabilities and offerings, expand its global footprint and broaden its reach to new sectors.
Launched in 2014, Paris-based Reporting 21 provides ESG solutions and consultancy services to corporations and financial institutions, including enabling companies to streamline data collection, analysis and reporting across geographies, business units and work sites, and supporting private markets investors to understand the ESG attributes of their portfolios.
Mark Wallace, CEO of Cority, noted that the acquisition “furthers our commitment to empowering organizations to operate responsibly and make better decisions.” According to Wallace, the transaction also marks an expansion of the company’s opportunity set, adding the financial services sector to its addressable market.
“The addition of both the Reporting 21 technology as well as its team of experienced advisors will enable us to serve a broader spectrum of customers and provide the right sustainability and ESG solution for every organization.”
ESG has been a focus area for Cority, which is majority owned by software and technology-focused private equity investment firm Thoma Bravo. Last year Cority launched its Sustainability Cloud solution to help organizations manage, measure, and report on sustainability initiatives, and acquired responsible business management software company WeSustain.
Serving over 150 clients in more than 120 countries, Reporting 21 expands Cority’s geographic footprint, and brings the company’s headcount to over 500 employees. Reporting 21 CEO and co-founder Yannick Grandjean stated that the transaction will better enable the company to “fulfill our mission to help organizations not only manage their ESG data, but also report and take action.”
“I’m excited for our customers and employees and thank them for their support over the last six years. This move will drive even greater value for clients by leveraging Cority’s established structure, success, and expertise.”