EcoOnline’s Acquisition Of Airsweb Further Fuels Its Regional Growth Aspirations And Product Capability Expansion
11, August 2020
EcoOnline’s Acquisition Of Airsweb Further Fuels Its Regional Growth Aspirations And Product Capability ExpansionOn 29th July, EcoOnline, a vendor of workplace safety and chemicals management software headquartered in Norway, announced its acquisition of Airsweb, a provider of Environmental, Health and Safety (EHS) software solutions headquartered in the United Kingdom. The acquisition comes after a series of new capital injections in EcoOnline from Summa Equity and Goldman Sachs Merchant Banking division in February of 2020. Preceding this recent capital injection was a previous 2017 capital injection by Summa Equity, which resulted in EcoOnline’s acquisition of DCM Compliance and 3T Results in 2018 and subsequent development of its Safety Manager software. Additionally, the company strengthened its position as a Chemical Management SaaS vendor by acquiring Swedish software provider, Nord Port, and the Norwegian Chemical documentation company, SafeUse.
The acquisition of Airsweb will further fuel EcoOnline’s product capability expansion, which aims to develop a more comprehensive health and safety solution in addition to its chemicals management platform (see Verdantix: EcoOnline Expands From Robust Chemical Management Foundation To Deliver Comprehensive EHS Solution). The acquisition of Airsweb is part of a larger growth strategy that is allowing EcoOnline to expand into the UK and US market capitlising on Airsweb’s significant presence in the UK and the US. EcoOnline is looking to also leverage the power of Airsweb’s AVA platform, which is cloud-based, highly configurable and is based on the highly innovative graph database architecture (see Verdantix: Airsweb’s AVA Platform Successfully Applies Graph Technology To EHS).
Additionally, EcoOnline has invested in artificial intelligence and machine learning technologies for getting data more quickly and more effectively, and with the acquisition of Airsweb, the firm will have a much higher headcount and development force geared towards R&D, further bolstering its capabilities in these areas. These acquisitions will serve to increase EcoOnline’s market share in the EHS landscape by including more of the mid-market and larger enterprise customers.