EcoOnline acquires Biome, an Irish Environmental Software specialist

Biome's environmental management and Corporate Social Responsibility (CSR) software handles Environmental, Social, and  Governance (ESG) metrics such as greenhouse gases, air pollution, and wastewater management. The data points can be monitored and analyzed to drive environmental compliance and reporting efficiency with a flexible and user-friendly interface.  

Biome is based in Dublin, Ireland, and has a highly focused and innovative team of 4 employees. The founder and CEO, Gary Morgan, an ESG subject matter expert with 15+ years of experience, will be integral to accelerating EcoOnline's ESG offering in the years to come. The Company has loyal blue-chip customers such as Intel and Canon and reported an LTM total revenue of MEUR 0.3 and LTM EBITDA of MEUR 0.1. 

EcoOnline has acquired all shares in Biome for the total amount of MEUR 1.1, settled at closing by: 

• MEUR 0.4 in cash, funded with existing cash reserves 

• MEUR 0.7 in shares in EcoOnline Holding AS at NOK 19.824 per share  

EcoOnline's CEO, Göran Lindö, states: "Our acquisition of Biome reflects a desire to deliver best-in-class ESG solutions to our customers. Biome's culture of solving universal ESG problems' bottom up' using technology and expertise is in line with EcoOnline's philosophy. Combining Biome's deep knowledge of environmental data gathering and monitoring with our own broader EHS platform will allow us to expand our ESG offering further. We are very excited for the year to come, and Biome's excellent team will be a cornerstone of our investment in protecting workers and the environment." 

"The team at Biome are proud to be joining forces with EcoOnline. We are excited to join a company that shares our vision of a future where corporate value is not solely driven by financial value but by the impact value created for society. Our primary goal has always been to provide our customers with the best possible tools to shift environmental accounting to the heart of a business. From the start, it was clear that EcoOnline could enable this at scale — they care deeply about customer experience, sustainability, and long-term growth. The potential for growth in the environmental and sustainability software segment is evolving at pace — it is a fantastic time for Biome to be joining one of the fastest-growing software companies in Europe. By joining EcoOnline, we can work together towards a future where sustainability is a standard part of the business fabric," says Gary Morgan, CEO of Biome.   

The transaction was closed 29 March 2022. The share capital increase, through the issue of 330,012 new shares in EcoOnline Holding AS at a price of NOK 19.824 per share, was resolved by EcoOnline Holding AS' board of directors pursuant to a board authorization granted 15 March 2021.