AMCS Buys FigBytes to Boost ESG Solutions
AMCS, a prominent global provider of comprehensive cloud-based software and vehicle technology for industries related to the environment, utilities, waste management, recycling, and resources, has made a significant announcement.
They have successfully acquired FigBytes, the creators of the renowned Sustainability Platform tailored for organisations with a strong focus on making a positive impact, with the transaction amount remaining confidential.
This marks the second strategic manoeuvre by AMCS within the realm of Environmental, Social, and Governance (ESG) activities, coming on the heels of their earlier acquisition of Quentic in June 2022.
These acquisitions underscore AMCS's unwavering dedication to making worldwide investments in the environmental services sector. FigBytes has firmly established itself in the North American market with its cutting-edge technology, and this aligns seamlessly with AMCS's footprint in Europe.
This acquisition paves the way for AMCS to enhance its service offerings to clients globally, providing cloud-based Software as a Service (SaaS) solutions that are instrumental in achieving sustainability objectives and addressing the increasingly intricate landscape of regulatory reporting requirements.
Jimmy Martin, the CEO of AMCS, expressed his enthusiasm by stating, "Our mission is to facilitate a sustainable future for our clients and their communities, and the addition of FigBytes is an exciting step towards that goal. This acquisition underscores our commitment to deliver integrated, secure, and forward-looking environmental software solutions, enabling clients worldwide to accelerate their growth and sustainability."
The FigBytes platform will fortify AMCS's existing ESG reporting and data management capabilities and harmonise with the company's current portfolio of offerings.
With FigBytes now in the fold, AMCS has expanded its expertise in ESG across both European and North American territories. This positions the company to offer comprehensive global solutions for sustainability and compliance, covering the diverse regulatory requirements of different regions.
For instance, the newly mandated EU CSRD regulation will impact a wide range of companies at various times in the future, and they will need to manage their ESG data and ensure auditable reporting through the ESRS reporting framework. FigBytes adds significant value to AMCS clients by supporting effective data management and accurate reporting to meet the demands of this regulation and others.
Ted Dhillon, CEO and co-founder of FigBytes remarked, "For nearly a decade, we have equipped sustainability leaders worldwide with robust tools, resources, and expertise to put their ESG and sustainability initiatives into practice.
"The synergy between FigBytes' acclaimed Sustainability Platform and AMCS's suite of Environmental Software Solutions offers organisations a distinctive and compelling proposition, serving as a clear digital pathway towards a more sustainable future while aiding in compliance with ESG regulations globally. I have full confidence that our alignment with AMCS will open up significant opportunities for organisations to drive even more positive change for people and the planet."
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