Source Intelligence, a developer of supply chain compliance and ESG (environmental, social and governance) management software, has acquired ChainPoint, a software platform for monitoring supply chains. Financial terms of the deal were not disclosed.
Supply Chain Monitoring Software: M&A and Business Details
The ChainPoint acquisition enables Source Intelligence to expand its European presence, the buyer noted.
ChainPoint, founded in 2003, is based in Arnhem, The Netherlands, with additional offices in Germany and France. More than 70,000 companies globally leverage ChainPoint's software. The software allows customers to manage and share product, process, and supplier information from raw material to finished product, the seller said.
Source Intelligence, founded around 2009, is based in San Diego, California. The company had 106 employees listed on LinkedIn as of May 24, 2023.
Source Intelligence had apparently raised at least $17.5 million through 2016, according to CrunchBase. Private equity firm ParkerGale Capital acquired Source Intelligence and tucked Total Parts Plus (TPP) into the business in 2021. At the same time, VelocityEHS founder Glenn Trout joined Source Intelligence as CEO.
ESG Software M&A: Executive Perspectives
In a prepared statement, ChainPoint CEO Johan Zandbergen said: “Joining forces with Source Intelligence will consolidate our position in international markets and further strengthen the innovation and quality of service our team brings to existing and new clients."
Added Glenn Trout, CEO of Source Intelligence: "The acquisition of ChainPoint allows us to trace more raw materials back to their source and expands our ability to serve clients in other industries, including food, apparel, and retail. With a broader range of Supply Chain Compliance and Transparency solutions, we are better positioned to serve our rapidly growing global customer base."
ESG Related Mergers & Acquisitions
Meanwhile, M&A activity in the ESG consulting and services market remains strong.