Osborne Clarke advises shareholders of carbon accounting software provider Spherics on its acquisition by Sage

International law practice Osborne Clarke has advised shareholders of Spherics, the provider of a carbon accounting solution to help businesses easily understand and reduce their environmental impact, on its acquisition by Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses.

Headquartered in Bristol, Spherics offers a software platform that quickly and clearly measures an organisation's carbon emissions to support businesses on their journey to net zero. By using analysis of existing data held in the client organisation's accounting software, Spherics offers reliable data streams, reduces the need for consultancy teams and allows more resource to be focused on managing and mitigating emissions. The award-winning carbon foot printing software company has garnered an impressive client list, including GoCardless, Jacobs Engineering and Equans. 

The acquisition will allow Sage to realise its sustainability commitments, by combining Spherics' innovative software with its own digital network to help businesses meet science-based emissions targets more effectively.

Osborne Clarke's team led by Corporate Partner Rob Wood and Associate Director James Taylor also included Associates Andrew Massey and Liz Foley. Additional support was provided by Partner David Nisbet and Senior Associate Jonny Musty advising on tax and Partner Anika Chandra and Senior Associate Samuel Marriott advising on incentives.

Rob commented: "At Osborne Clarke, we understand the significant challenges that climate change poses to our planet, our personal lives and our businesses. We're delighted to have supported George and the Spherics team as they work with Sage to take their pioneering platform solution to the next level, supporting even more businesses on the transition to a low carbon future."

George Sandilands, CEO & Co-founder of Spherics, commented: "The Osborne Clarke team were fantastic from start to finish of the deal. Their expertise, diligence and support through every stage made for a smooth transaction process. We're excited to embark on this new journey with Sage to make a global impact on greenhouse gas emissions by supporting millions of businesses on their journey to net-zero."

Osborne Clarke has a market-leading practice for mid-market tech M&A and works closely with founders, shareholders, management teams and institutional investors to support them through the course of a company's life-cycle and its milestone transactions. As businesses strive to meet the challenges of decarbonisation, the team’s experience and understanding of this sector also means they are well placed to advise on companies' decarbonisation journeys.