GreenBox Group, an e-waste management firm, has acquired RemarkIT, a company focused on IT waste management and professional services. Financial details of the deal were not disclosed.
This is technology M&A deal number 65 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
GreenBox Solutions, founded in 2000, is based in Lytton, Queensland, Australia. The company has 76 employees listed on LinkedIn. GreenBox’s areas of expertise include supply chain solutions, receipt, storage & pre-staging, hardware configuration, high-speed imaging, project management, staging & imaging, installation, data migration, data sanitization, asset decommission & deinstall, transport & logistics, testing & reporting, reuse or recycling, media degaussing, media shredding, and secure certification.
RemarkIT, also founded in 2000, is based in Wellington, New Zealand The company has 50 employees listed on LinkedIn. RemarkIT’s areas of expertise include commissioning, decommissioning and remarketing of information technology (IT) equipment.
The merger aims to enhance GreenBox's presence across New Zealand, benefitting from RemarkIT's established operations and expertise in sustainable technology asset lifecycle management. The combined workforce post-acquisition is set to increase significantly.
RemarkIT’s team of over 60 technology specialists will join GreenBox, growing its headcount to more than 100, the company said.
E-Waste Policy Gap in New Zealand
The transaction is notable within the context of New Zealand's unique position as the only OECD country without an e-waste policy. It underscores efforts to improve the nation's electronic waste handling capabilities, according to the company.
Reports indicate that information and communications technology (ICT) equipment plays a notable role in global climate emissions. The production and disposal of such equipment, including smartphones, involve significant resource usage and environmental impact. Conversely, refurbishing ICT equipment substantially lessens these impacts.
