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BMO Financial To Acquire Radicle Group For Undisclosed Terms
(RTTNews) - BMO Financial Group (BMO, BMO.TO) announced Wednesday that it has entered into a definitive agreement to acquire Radicle Group Inc., a Calgary-based leader in sustainability advisory services and solutions, and technology-driven emissions measurement and management. Terms were not disclosed.
The transaction is subject to receipt of required regulatory approvals and other customary conditions. It is expected to close by the end of calendar 2022.
Founded in 2008, Radicle has established a reputation as a leading developer of carbon offsets and for helping organizations measure and reduce emissions. Radicle has 130 employees and over 4,000 clients globally.
"The acquisition of Radicle supports BMO's Climate Ambition to be our clients' lead partner in the transition to a net-zero world, and the progress we're making for a thriving economy, a sustainable future, and an inclusive society," said Dan Barclay, CEO, BMO Capital Markets.
Radicle's leading expertise and innovative solutions make BMO a leader in carbon credit development capabilities and the environmental commodity market.
By joining BMO, Radicle will be able to continue serving its existing customers, accelerate its emissions reduction efforts, scale its activities across BMO's client network, develop additional sustainability services, and enter new markets.
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