Sphera has entered into an agreement to acquire thinkstep.
Sphera is a global provider of integrated risk management software and information services with a focus on environmental health & safety.
thinkstep is a Stuttgart, Germany-based software and consulting services company that specialises in corporate sustainability and product stewardship. The deal is pending customary German regulatory approvals for mergers and acquisitions.
In recent years, thinkstep successfully transformed its business model into a software-as-a-service-based solution by following an attractive growth trajectory. Combined with thinkstep's client base, this transition allowed it to take a major step forward in the company's development.
Paul Marushka, Sphera's president and CEO, said: "thinkstep's cloud-based and on-premise software, data and expertise in the corporate sustainability and product stewardship markets advance our mission of creating a safer, more sustainable and productive world. thinkstep's presence in EMEA and APAC extends our geographic footprint in serving our global customer base."
thinkstep's corporate sustainability software, implementation and consulting services can simplify enterprise-wide sustainability reporting, risk management, audits, strategy and resource optimisation. The company's product stewardship software and consulting services can assist in designing more sustainable products and in managing product compliance across the lifecycle.
"thinkstep offers our customers more than 30 years of experience in the field of sustainability," said Jan Poulsen, thinkstep's CEO. "Adding our advanced software solutions, extensive LCA and eco-profile databases, and sustainability expertise to Sphera's environmental health & safety solutions is a very attractive business combination that will allow us to serve our extensive customer base more broadly going forward. We are excited to be joining Sphera and thank our former partners Gimv and Next47 for their expertise and strategic support in developing our business model successfully."