- Columbus, OH-based e-waste firm Sage Sustainable Electronics has announced that it will acquire Mt. Vernon, NY-based electronics recycler Hugo Neu Recycling for an undisclosed amount.
- Sage will be able to bring its tools, such as Sage Bluebook and the Sage Central customer portal, to Hugo Neu's customers. Hugo Neu Recycling President Alan Ratner said in a statement that Sage's strategy to extend reuse and delay recycling will "benefit the company's customers almost immediately."
- Hugo Neu, which provided startup funding for Sage in 2014, is the company's largest shareholder.
"As a Microsoft Authorized Refurbisher, Sage will increase the value of every computer we refurbish," said Hugo Neu Recycling Chairman and CEO Wendy Neu in a statement. "Our customers also benefit because Sage's facilities extend our reach across the country."
According to a Research and Markets report, the global electronic waste market size is projected to reach $5.04 billion by 2020 at an estimated compound annual growth rate of 20.6%, from $1.66 million in 2014. In a market that is quickly growing, the merge between Sage and Hugo Neu will help keep the businesses competitive and successful.