M&A: SGS Acquires Carbon Accounting and ESG Software Startup Sami

SGS has acquired Sami, a French startup that develops a climate change and carbon accounting software platform. Financial terms of the deal were not disclosed.

SGS, based in Switzerland, is a global testing, inspection and certification company. Backed by roughly 100,000 employees, SGS operates over 2,500 laboratories and business facilities across 115 countries, the company says.

Sami, founded in 2020, has a software platform and consulting services that help companies measure, report and reduce their carbon footprint and wider environmental, social, governance (ESG) and corporate sustainability metrics. Roughly 45 Sami employees will join SGS, the buyer said.

More than 1,500 corporate customers leverage Sami for carbon management. Sami's partner network spans more than 100 companies -- including including independent consultants and firms of all sizes such as KPMG, Ekodev, Bureau Veritas, Wavestone, and Axa Climate, according to the company.

SGS has M&A experience in the sustainability sector. The company in early 2025 acquired Aster Global Environmental Solutions, a service provider that validates and verifies greenhouse gas (GHG) emissions and offsets.

Carbon Accounting Software M&A Activity and Market Growth Forecast

M&A activity involving carbon accounting software companies has been steady -- though in most cases we don't know if the deal valuations were strong.

On the upside: The Carbon Footprint Management Market is expected to reach $103.4 billion by 2034, up from $13.8 billion in 2024, according to Global Insight Services. That's a 22.3% compound annual growth rate (CAGR). Moreover, numerous market forecasts predict strong demand for sustainable IT solutions.

But on the downside: Dozens of climate tech startups in 2025 are struggling to find new funding and new customers amid recent geopolitical headwinds.

Indeed, the U.S. federal government has rolled back and/or abandoned various climate initiatives since President Donald Trump's second term began in January 2025.

As a result, many venture capitalists (VCs), private equity firms and angel investors have hesitated to fund existing or new climate tech startups. The geopolitical headwinds could force some climate tech businesses to shutter and/or sell their intellectual property at steeply discounted valuations.