Mitratech’s Acquisition of CMO Software Adds to the Hectic Deal Flow in the EH&S Software Market
On June 21, 2016, the Austin, Texas headquartered enterprise legal management solutions provider, Mitratech, announced it had acquired CMO Software. Neither party has disclosed the terms of the transaction. At the time of the acquisition CMO Software had approximately 100 customers and 170 employees. The Verdantix Green Quadrant benchmark of 22 EH&S software vendors assessed CMO Software as one of the nine leaders in the market.
Over the past three years Mitratech has seen increasing demand from the C-suite for greater visibility into all aspects of risk management across the organisation. The firm believes the acquisition of CMO Software’s EH&S and risk management software will give it the unique proposition of being able to deliver a complete end-to-end risk management solution, across all bases - from compliance and EH&S to strategy and policy. According to Mitratech, the flexibility of CMO Software’s modular technology platform and its strong customer base in Europe, the Middle East, and Africa were strong drivers underpinning the acquisition.
The acquisition follows hot on the heels of the Enablon acquisition by Wolters Kluwer, the sale of IHS’s software assets to Genstar Capital, private equity investment in Medgate and UL acquiring cr360. With multiple investments and acquisitions taking place, operating as a standalone EH&S software vendor is becoming an increasingly untenable strategy. By far the majority of the financial investments and trade purchases are adding more resource into the EH&S software market without reducing the number of vendors.