ServiceNow To Acquire Task Mining Company UltimateSuite To Enhance Process Mining And Intelligent Automation On The Now Platform; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
ServiceNow (NYSE:NOW) has announced the acquisition of task mining company UltimateSuite to enhance process mining and intelligent automation on the Now Platform. This acquisition aims to help customers identify bottlenecks and improve operational efficiencies by integrating UltimateSuite's task mining technology, which provides actionable insights and automation opportunities. The financial terms of the deal were not disclosed, and the acquisition is expected to close in Q1 2024. UltimateSuite, founded in 2020 and headquartered in Prague, has received industry recognition and was part of Accenture's Start-Up Accelerator and the Microsoft Founders Hub.
December 18, 2023 | 1:31 pm
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ServiceNow's acquisition of UltimateSuite is expected to enhance its process mining and intelligent automation capabilities, potentially leading to improved operational efficiencies for its customers.
The acquisition of UltimateSuite is likely to be viewed positively by investors as it enhances ServiceNow's existing capabilities in process mining and AI, which are growing fields according to the Gartner study. The integration of UltimateSuite's technology could lead to new product features and efficiency gains for ServiceNow's customers, potentially driving revenue growth and improving competitive positioning in the long term. However, without financial details, the immediate financial impact is uncertain.
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