IBM has acquired Sydney-based data analytics company Envizi to boost its capabilities in the sustainability and compliance market.
Formerly known as CarbonSystems, the company was founded in 2008 by David Solsky and Bill Clasquin after the two developed the original software platform in 2004, according to the company’s website.
IBM said the additional capabilities will enable it to better meet its own sustainability targets and also become part of a new product offering.
The software automates the collection and consolidation of more than 500 data types and supports major sustainability reporting frameworks, according to IBM.
“This acquisition builds on IBM’s growing investments in AI-powered software, including IBM Maximo asset management solutions, IBM Sterling supply chain solutions and IBM Environmental Intelligence Suite, to help organizations create more resilient and sustainable operations and supply chains,” the company said in a statement.
The company said the acquisition would also help expand its consulting group’s sustainability practice.
“To drive real progress toward sustainability, companies need the ability to transform data into predictive insights that help them make more intelligent, actionable decisions every day," said Kareem Yusuf, head of IBM AI Applications.
“Envizi’s software provides companies with a single source of truth for analyzing and understanding emissions data across the full landscape of their business operations and dramatically accelerates IBM’s growing arsenal of AI technologies for helping businesses create more sustainable operations and supply chains.”
The product will be sold as a SaaS solution and can run in multi-cloud environments. Envizi counts Microsoft, Qantas, CBRE, Uber, abrdn and Celestica amongst its customers.
“As a leader and innovator in AI for business, IBM has decades of experience helping organizations around the world harness the power of their data and act on it,” said David Solsky, CEO and CoFounder of Envizi.
“IBM’s global reach, depth of resources and breadth of expertise will help us to scale at an unprecedented pace. As part of IBM, we feel more confident than ever that we can achieve our goal of providing clients and partners with the world class tools they need to reduce their operational impacts and optimize for the low carbon future.”