ISS-Corporate, a provider of compensation, governance, cyber risk, and sustainability services, aims to bolster shareholder value and mitigate risks.
Celsia, headquartered in Oslo, specialises in Software-as-a-Service (SaaS) solutions for corporate sustainability reporting, focusing on the European Union’s stringent regulatory frameworks.
The acquisition of Celsia by ISS-Corporate is strategically aimed at enhancing ISS’s offerings in the sustainability domain, particularly under the new European Union’s Corporate Sustainability Reporting Directive (CSRD). This move is timely as the CSRD regulations begin to impact companies across Europe, necessitating robust reporting solutions. The financial terms of the deal have not been disclosed, reflecting the private nature of the transaction.
ISS-Corporate provides an array of services designed to improve governance, manage compensation, and monitor cyber risks, alongside their sustainability offerings. Their solutions cater to global corporations looking to enhance shareholder value and reduce operational risks through advanced technology and services.
Celsia offers a critical solution for European companies grappling with the CSRD’s demands. Their software supports the EU Taxonomy and Sustainable Finance Disclosure Regulation, automating the sustainability reporting process, which significantly reduces the time and cost associated with compliance.
The integration of Celsia’s technology will allow ISS-Corporate to offer a comprehensive suite of sustainability solutions that are much needed under the new CSRD regulations. Celsia’s expertise will complement ISS’s existing services, providing a holistic approach to corporate governance and sustainability challenges faced by modern enterprises.
Over 300 companies currently use Celsia’s innovative software to streamline their sustainability reporting, with some reporting time savings of up to 80%. With CSRD regulations set to affect approximately 50,000 companies within the EU/European Economic Area by 2027, the potential market for these services is substantial, promising significant growth opportunities for ISS-Corporate.
ISS-Corporate head Marija Kramer said, “As corporations across the globe seek cutting-edge solutions and services in response to a rapidly shifting regulatory landscape, ISS-Corporate is pleased to respond to those demands through this transaction. We welcome the Celsia team to the ISS-Corporate family and look forward to continue providing our clients with industry leading solutions spanning sustainability, governance, compensation, and cyber risk.”
Celsia CEO & Co-Founder Petter Reistad said, “We are excited for Celsia to join ISS-Corporate. Together we will help many more clients free up time to implement sustainability initiatives, while still doing high-quality reporting. Our clients are the true winners in this transaction. They will get access to a menu of complementary solutions, solving their full range of challenges within sustainability and regulatory reporting.”
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