Tech major IBM has acquired Envizi, a leading data and analytics software provider for environmental performance management, for an undisclosed sum.
Envizi's software automates the collection and consolidation of more than 500 data types and supports major sustainability reporting frameworks.
By using Envizi with IBM's broader AI-powered software, companies will be able to automate the feedback generated between their corporate environmental initiatives and the operational endpoints being used in daily business operations.
"Envizi's software provides companies with a single source of truth for analyzing and understanding emissions data across the full landscape of their business operations and dramatically accelerates IBM's growing arsenal of AI technologies for helping businesses create more sustainable operations and supply chains," explained Kareem Yusuf, General Manager, IBM AI Applications.
Available as a SaaS solution and running in multi-cloud environments, Envizi serves leading brands such as Microsoft, Qantas, CBRE, Uber, abrdn, and Celestica, and its software can be applied to activities across a variety of industries.
"IBM's global reach, depth of resources, and breadth of expertise will help us to scale at an unprecedented pace," said David Solsky, CEO and Co-Founder, Envizi.
IBM last year announced plans to reach net-zero emissions by 2030.
The company said it will reduce its greenhouse gas emissions by 65 per cent by 2025 compared to its emissions in 2010 and will also procure 75 per cent of the electricity it consumes worldwide from renewable sources by 2025.
