Acquisition Of OneLook Systems By VelocityEHS Reflects Continued Momentum For Permit To Work Software Demand
On May 12th, 2021 VelocityEHS, the global EHS software provider announced the acquisition of Ireland headquartered, cloud-based permit to work software vendor OneLook Systems. Founded in 2008, OneLook Systems has 40 employees and over 60 blue-chip customers in food and beverage, manufacturing and life sciences such as Abbott, GE Healthcare, Google, Nestle and Siemens Healthineers. VelocityEHS with its 450 employees has continued to deepen its EHS and risk management software capabilities through acquisitions. In 2018, it acquired Humantech, an industrial ergonomics software and services provider and in 2019 acquired Meercat, a risk management software vendor based in Australia.
This acquisition is significant for VelocityEHS for a number of reasons. Firstly, in the Verdantix 2020 global corporate survey, control of work emerged as one of the top areas that will witness the highest spend by firms on software with 51% of the 259 executives in operations, maintenance, engineering and process safety roles planning investment in 2021. This acquisition of OneLook Systems puts VelocityEHS in a strong position to take advantage of this rise in demand by bolstering its capabilities for permit to work.
Secondly, VelocityEHS emerged as a Leader in the Verdantix EHS software Green Quadrant benchmark and tied top for chemicals management with a score of 2.7/3.0 and garnered impressive scores of 2.4/3.0, 2.3/3.0 and 2.1/3.0 each for training, management of change and risk management capabilities. By leveraging hazardous substance information from VelocityEHS MSDSonline along with information on competencies and certifications from the training module with the permit to work software, VelocityEHS can now not only offer its customers a robust control of work solution but also an integrated operational risk management software platform that brings together information on interactions between workers, assets and processes for a view into industrial facility-level risks. It will also deepen VelocityEHS contractor management capabilities as OneLook Systems has offerings for contractor management portal, permit to work, competency checks and site access management.
Thirdly, the acquisition of OneLook Systems will help VelocityEHS further expand its footprint in Europe and provide cross-sell opportunities for gaining market share.
For more information visit the Verdantix Operational Excellence research website.