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Friday, March 31, 2023

ServiceNow (NYSE: NOW) Announces Acquisition of Intellibot

ServiceNow, Inc. (NYSE: NOW) disclosed that it has inked an agreement to buy Intellibot. The acquisition of an Indian-robotic-based firm will grow the core workflow capabilities of ServiceNow by assisting consumers to automate recurring tasks for intelligent, end-to-end automated systems.

NOW plans to develop the abilities of Intellibot inherently into the Now Platform to allow clients to more easily combine with both modern and legacy systems to push efficiency and bolster the current AI and ML efforts. Not too long ago, NOW has provided the Now Platform Quebec Release to assist businesses in speeding up their digital revolution by revolutionizing rapidly, being more responsive, and functioning more efficiently within a new world of work accelerated by COVID.

Shares of ServiceNow soared 0.22% at $477.70 during the pre-market trading session of Tuesday. Its share moved up 98.47% and -20.34% from its 52-week low and high, respectively. The Gross Margin, Profit Margin, and Operating Margin of the firm are 78.20%, 2.60%, and 3.40%, respectively. ServiceNow has a total market capitalization of $92.55 billion at the time of writing.

Furthermore, this buying of ServiceNow will expand the foot of the firm in the Indian market, which demonstrates one of the firm’s fastest increasing markets. The firm is also intending to create two new data center services in India by the first quarter of 2022.

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