Cority has acquired Hannover, Germany-based WeSustain, a provider of software solutions designed to support responsible business management. No financial terms were disclosed. WeSustain was backed by VNT Management. Cority, a Toronto-based provider of enterprise environmental, health and safety software, is majority owned by Thoma Bravo.
Toronto, Canada and Hannover, Germany, April 30, 2021 (GLOBE NEWSWIRE) — Cority, the global enterprise EHS software provider, today announced the acquisition of WeSustain, a specialist in developing innovative software solutions designed to support responsible business management and thought leaders at the intersection of environmental, social, and governance (ESG) and digitization.
With 60 customers – including ThyssenKrupp, McKesson, Merck, Commerzbank, United Internet, and Hapag-Lloyd – WeSustain is one of the world’s leading specialized software providers for ESG, corporate sustainability, and responsible business management. WeSustain’s GRI-certified SaaS solutions span across ESG, sustainability, compliance, and impact management – enabling integrated ESG and corporate sustainability management across the enterprise from a central platform.
“Joining forces with Cority instantly advances our aim of making businesses more sustainable and future-proof in Europe and around the world,” said Dr. Manfred Heil, CEO, WeSustain. “We’re convinced that smart digital solutions have an essential role to play in enabling our clients to fulfill their potential for greater efficiency, innovation, and positive impact; and to build trust through greater transparency surrounding what they do.”
Organizations are increasingly focused on digitizing their management of ESG, often as part of a wider digital transformation of EHS processes and programs. According to McKinsey & Company, evidence is emerging that a better ESG score translates to about a 10 percent lower cost of capital, as the risks that affect the business are reduced.
“Recent Verdantix survey on more than 300 EHS executives found that over half (60%) plan to adopt software for ESG reporting and sustainability program management in 2021,” said Yaowen Ma, Principal Analyst at Verdantix. “Cority has made a timely, strategic acquisition that not only further enhances its enterprise-wide platform offerings, but also continues to strengthen ESG capabilities for customers to better manage sustainability risks throughout the supply chain.”
“We are delighted to add the outstanding solutions and top talent of WeSustain to the Cority family,” said Mark Wallace, President and CEO, Cority Software Inc. “WeSustain’s solutions are an obvious complement to our market-leading CorityOne™ platform. The combination strengthens our European presence and positions Cority for the rapidly emerging strategic impact of ESG factors in every major enterprise around the world.”
WeSustain is a specialist in developing innovative software solutions designed to support responsible business management and thought leaders at the intersection of environmental, social, and governance (ESG) and digitization. Since 2010, WeSustain has developed smart software-as-a-service (SaaS) solutions for data management and reporting in the area of ESG, sustainability, as well as impact, and compliance management. With 60 customers including large industry associations, approximately 600 companies and institutions place their trust in us and work with our advanced solutions. To learn more visit www.wesustain.com .
Cority is the global enterprise EHS software provider creating industry-leading technology to empower those who transform the way the world works. For over 35 years, Cority has been powered by the spirit of innovation, deep domain expertise, and a commitment to integrity that enables higher levels of operational and sustainable performance with the most comprehensive, human-centered, and secure SaaS platform to help workers and businesses thrive in 100 countries around the world. The company enjoys the industry’s highest levels of client satisfaction and has received many awards for its strong employee culture and outstanding business performance. To learn more, visit www.cority.com.
About VNT Management Oy
VNT has been lead investor of WeSustain since 2014 and is one of the first venture capital management companies in Europe that focuses on clean technologies, in particular renewables, electrical systems and energy savings. VNT is active in the Nordics and German-speaking countries. At present, VNT has three funds with a total investment capital of €157 million under management. VNT mainly invests in technology-orientated start-ups and growth companies in Europe. Wide business experience, active management, and corporate values based on fair play make up the cornerstones of VNT.