ESG performance and risk management software, data and consulting services provider Sphera announced today an agreement to acquire supply chain risk management (SCRM) software company riskmethods.

Founded in 2013, Munich-based riskmethods utilizes artificial intelligence (AI), big data and machine learning to enable organizations to identify, analyze and mitigate all types of supply chain risk. The company’s SaaS platform collects supplier data and real-time information, and distinguishes critical signals from “noise” to provide users with detailed status of their suppliers.

Heiko Schwarz, riskmethods’ CEO and founder, said:

“Adding our advanced AI and machine-learning SCRM software solution to Sphera’s product portfolio will enable us to further our reach across the globe and help even more customers manage supply chain risk. We are excited to join the Sphera family of leading ESG software, data and consulting solutions.” 

Sphera works with organizations around the world to help them surface, manage, and mitigate ESG risk in the areas of Environment, Health, Safety & Sustainability, Operational Risk Management and Product Stewardship. The company was acquired last year by alternative investment manager Blackstone in a deal valuing Sphera at $1.4 billion.

According to Paul Marushka, Sphera’s President and CEO, the acquisition of riskmethods “bolsters Sphera’s capabilities in offering a Scope 3 emissions monitoring and reporting solution,” adding that the company’s “presence in Europe and the U.S. reinforces our ability to serve our expanding global customer base.”

Kelly Wannop, Managing Director at Blackstone, added:

“Blackstone’s 2021 investment in Sphera reflected our conviction in Sphera’s ESG mission and growth. The planned acquisition of riskmethods further demonstrates our commitment to helping Sphera expand their operational ESG solutions.”