Montrose Environmental Group Acquires Software Company Specializing in the Quantifying, Reporting and Visualizing of Environmental Data

Rhea-AI Summary

Montrose Environmental Group (NYSE: MEG) has acquired SensibleIoT, enhancing its capabilities in environmental solutions through advanced data analytics. Founded in 2018, Sensible provides an IoT platform that integrates various air, water, and soil data sources. The acquisition aims to create synergies between Montrose's services and Sensible's technology, aiding clients in achieving their environmental goals. The transaction's financial specifics were not disclosed, but it highlights Montrose's commitment to leveraging technology in environmental management.

Positive

• Acquisition of SensibleIoT enhances Montrose's data analytics capabilities.
• Integration of Sensible's IoT platform can lead to improved environmental solutions.
• Strategic move to support clients in meeting environmental goals through advanced technology.

Negative

• None.

Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG) today announced the acquisition of SensibleIoT, LLC (“Sensible”), an IoT (“Internet of Things”) and software platform that interfaces with multiple air, water and soil data sources to provide an integrated environmental solution with advanced data analytics capabilities. Terms of the transaction were not disclosed.

Founded in 2018 by Charles Beach, Sensible has helped private and public sector clients visualize, calibrate and interact with data to develop meaningful environmental insights.

“In combining Montrose’s environmental solutions with Sensible’s platform, we are able to offer further integrated services and data analytics that will help our clients meet their environmental goals,” said Jose Revuelta, Chief Strategy Officer of Montrose Environmental Group. “Charles has been successful in working with various public-private partnerships, such as the City of Denver’s Love My Air initiative, and he has developed several cutting-edge environmental solutions for many of our clients. The application of technology and software to the environmental industry is core to our strategy, and we are excited to have Charles on our team so we can further our mission of helping protect the air we breathe, the water we drink and the soil that feeds us.”

About Montrose

Montrose is a leading environmental solutions company focused on supporting commercial and government organizations as they deal with the challenges of today, and prepare for what’s coming tomorrow. With more than 2,000 employees across over 70 locations around the world, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling the Company to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit www.montrose-env.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “intend,” “expect”, and “may”, and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Further, many of these factors are, and may continue to be, amplified by the COVID-19 pandemic. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s filings with the Securities and Exchange Commission for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

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FAQ

What does Montrose's acquisition of SensibleIoT entail?

Montrose acquired SensibleIoT to enhance its environmental solutions through advanced IoT data analytics.

When was Montrose's acquisition of SensibleIoT announced?

The acquisition was announced on the date of the press release, which does not specify an exact date.

How will the acquisition of SensibleIoT impact Montrose's operations?

The acquisition is expected to integrate services and improve data analytics, assisting clients in achieving their environmental goals.

What is the strategic importance of Montrose's acquisition of SensibleIoT?

The acquisition strengthens Montrose's technology-driven approach to environmental management, potentially expanding its market reach.