Sage Sustainable Electronics, a next-generation IT asset disposition company focused on extending the useful life of technology, has reached agreement to acquire Hugo Neu Recycling, an electronics recycler and subsidiary of Hugo Neu Corporation.
The acquisition brings Hugo Neu customers proprietary tools such as the Sage Bluebook and the Sage Central customer portal as well as an extended range of IT lifecycle services designed to guarantee data security, reduce costs and recover value from used electronics, the company says. Sage’s strategy to extend reuse and delay recycling will benefit the company’s customers almost immediately, said Hugo Neu Recycling president Alan Ratner.
The acquisition is the latest step in a close working relationship between the companies. Hugo Neu Corporation provided startup funding for Sage in 2014 and is its largest shareholder.
Sage will significantly increase the level of reuse at Hugo Neu Recycling’s New Jersey facility, said Wendy Neu, Hugo Neu Recycling chairman and CEO. Hugo Neu Recycling is a Microsoft Authorized Refurbisher.
Sage will join Hugo Neu Recycling at Hugo Neu Corporation’s 130-acre industrial development at Kearny Point, New Jersey while retaining its headquarters in Columbus and its facilities in Baltimore, Columbus and Reno.
In March, Sage opened an IT repurposing center in Reno.