ServiceNow has acquired G2K, an artificial intelligence (AI)-powered managed service provider (MSP), for an undisclosed amount.
This is technology M&A deal number 159 covered so far in 2023 by ChannelE2E and MSSP Alert. His over 2,000 technology M&A deals for 2022, 2021 and 2020 are listed here.
ServiceNow was founded in 2004 and is based in Santa Clara, California. The company has 22,941 employees and he is on LinkedIn. ServiceNow’s areas of expertise include Service Management, Enterprise Cloud, Custom App Development, Platforms, ITSM, Security Operations, Customer Service Management, ITOM, GRC, HR Service Delivery, and Workflow Digitization.
Founded in 2013, G2K is based in Munich, Germany, with offices in Berlin, Cairo, Dubai and Mexico. The company has 218 employees and he is on LinkedIn. G2K’s areas of expertise include enhanced situational awareness, risk management, cutting-edge technology, data analytics, cloud, artificial intelligence, Internet of Things, smart retail, smart industry, and smart cities.
G2K mainly works with companies in the retail industry, but also has customers in other industries. The company’s technology enables organizations to connect real-time data across storefronts and other physical spaces for a complete view of operational data. ServiceNow says it plans to add G2K’s smart IoT technology to the Now Platform, enabling businesses to intelligently process digital and in-store data in enterprise-grade workflows.
Through this acquisition and partnerships with top retail customers, ServiceNow will develop end-to-end AI-powered workflow solutions powered by G2K’s technology for the retail industry and other industries such as transportation, healthcare and healthcare. It also has the flexibility to apply to Entertainment and future manufacturing.
ServiceNow Acquires G2K: Introducing AI
Karel van der Poel, senior vice president and general manager of ServiceNow, commented:
“ServiceNow is relentlessly focused on co-creating the future of work with our customers. Retail is just the beginning. We can create greater simplicity and efficiency for the growing needs of our customers across the globe.”
Omar El Gohary, Chief Technology Officer and Co-Founder of G2K, said:
“Many retailers are looking to a variety of AI point solutions to reshape the retail experience for their employees and customers, resulting in fragmented operations across the enterprise. G2K and ServiceNow We couldn’t be more excited to work together to bring our connected vision to life for our customers and help transform the world of work in retail and beyond.”
ServiceNow M&A History
G2K follows the recent acquisitions of Hitch Works and Element AI as part of ServiceNow’s commitment to providing customers with an additional layer of AI-driven value. ServiceNow plans to complete his G2K acquisition in the third quarter of 2023, subject to completion of regulatory reviews. Financial terms of the transaction were not disclosed.
Tidal Partners LLC acted as exclusive financial advisor and Baker McKenzie LLP acted as legal advisor to ServiceNow in connection with this transaction.
