EcoIntense Acquires NordSafety To Enhance Mobile Capabilities And Access Nordic Markets
On November 29, EcoIntense, an EHS software vendor headquartered in Germany, announced the acquisition of 11-employee NordSafety. The acquisition comes six months after EcoIntense received a €22 million investment boost from European private equity firm One Peak Partners as well as Morgan Stanley Expansion Capital. Based in Finland, NordSafety is a mobile-first EHSQ software provider with offices in Finland and the UK. Prior to their acquisition, NordSafety received a second round of funding from the Finnish government for €0.25 million ($0.29 million). Financial terms of the ecointense acquisition of NordSafety were not disclosed.
NordSafety was founded in 2014 by Fredrik Löfberg CEO, Jani Virtala, CTO and Timo Kronlöf, Chief Customer Success. The majority of their Nordics-based customers belong to the power utility, manufacturing and construction sectors, such as ABB, Eltel, Fingrid, Nordex, Siemens and Skangas. Over the past three years, NordSafety has developed mobile safety software used by workers for creating risk assessments, reporting incidents, and documenting safety audits. In 2016, NordSafety’s software was used to log a total of 79,000 audits and incidents. A prominent feature of the mobile app is its ‘Safety Feed’. This provides workers at all levels – from on-site engineers to senior manager roles – with access to an instant messaging and notification capability to interact on safety incidents. Fingrid, a Finland-based electricity transmission firm, with 500 workers now using NordSafety’s mobile-enabled software for on-site safety reporting, experienced three times more near-miss hazard observation reports compared to the period prior to using the app.
Combining EcoIntense’s enterprise EHS software ‘EcoWebDesk’ with NordSafety’s mobile software is a logical step. NordSafety’s plans to boost predictive analytics through the continuous stream of safety communications on ‘SafetyFeed’ will be made possible through integration with the analytics capability provided by EcoWebDesk. EcoIntense, already providing EHS software with a full-suite of capabilities, will no doubt benefit from the mobile app integration for facilitating on-the-job safety reporting. The acquisition is a smart move by EcoIntense which is increasingly establishing its credentials as a top five vendor in the European market.
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