The Irish company’s sustainability reporting software will be added to Diligent’s suite of corporate governance tools.
Limerick-based software company Accuvio has been acquired by Diligent Corporation for an undisclosed amount.
Founded in 2009 by Adrian Fleming, Roy Meaney and Derek Spillane, Accuvio specialises in environmental, social and governance (ESG) reporting software. According to the company, its tech is “purpose-built and optimised for the job of global reporting of sustainability, energy and corporate social responsibility data on a single platform”.
The Irish business has customers in 120 countries including Ocean Spray, CBRE, Ireland’s Environmental Protection Agency and AIB. Accuvio says its sustainability and carbon reports can track emissions from more than 2,000 different sources across all areas of business, including waste, water, transport and supply chain.
Diligent Corporation is a large US SaaS company working in the area of governance, risk and compliance (GRC). It claims to have more than 1m individual users around the globe, as it works with 25,000 client organisations in more than 130 countries. Notable customers include Barclays, Mastercard, General Mills, Heineken and Domino’s Pizza.
The company had its eye on Ireland before the acquisition of Limerick’s Accuvio. Last November, Diligent announced plans to establish a European hub in Galway with more than 200 employees.
The new deal will see Accuvio’s software offerings become part of Diligent’s GRC platform.
Diligent said the two companies have “natural integration points” and the addition of Accuvio will help organisations to prepare, track and disclose key metrics in line with major regulatory frameworks and standards.
“From our conversations across the more than 700,000 board members and leaders we serve, ESG is the most frequent topic in boardrooms and executive suites globally,” said Brian Stafford, Diligent’s CEO.
“As we empower clients to transform their organisations through impactful solutions, the core of our purpose is guiding and enabling their ESG journeys. That’s why we are so excited to welcome the Accuvio team to Diligent. Their advanced climate capabilities and deep expertise in sustainability reporting will be an incredible addition to our agile platform.”
Fleming, who serves as CEO of Accuvio, added: “Accuvio was founded on the notion that simple, easy-to-use software can help to secure a healthy environment for generations to come. We are thrilled to take that mission to the next level by becoming part of Diligent. Adding our purpose-built software to Diligent’s broader ESG solutions and GRC platform will provide clients in the marketplace with an unmatched value proposition.”
Updated, 11:15am 11 August 2020: A previous version of this article said that Diligent has clients in 90 countries. It was updated to clarify that it is 130 countries.