Germany-based enterprise sustainability services provider Thinkstep has been acquired by risk management services firm Sphera in a deal enabling industrial product manufacturer Siemens to exit.
The financial terms of the transaction were not disclosed, and the deal requires customary regulatory approvals to close.
Founded in 1991 and previously known as PE International, Thinkstep provides a software-as-a-service platform to enterprises looking to make their operations more environmentally sustainable.
Thinkstep’s software allows clients to conduct sustainability audits and forecast the environmental implications of new products. The company also offers consulting services.
Sphera intends to integrate Thinkstep’s product range with its own environmental health and safety risk management services once the acquisition closes.
Siemens Venture Capital, the Siemens investment vehicle that has since been replaced by Next47, joined investment firm Gimv to provide $10.8m for Thinkstep in 2010. The company added $12.9m from the same two investors four years later.