ServiceNow is acquiring Sweagle, a startup software company focused on configuration data management. The deal will help ServiceNow partners to identify and help prevent potential application and infrastructure misconfigurations. If left unchecked, those misconfigurations can trigger business and technology outages. Financial terms of the deal were not disclosed.
This is M&A deal number 256 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Sweagle, founded in 2017, will help accelerate ServiceNow’s newly introduced Service Graph roadmap by managing configuration data for public and private cloud environments and modern application architectures, like microservices, containers, and serverless computing, the buyer says.
Sweagle, based in Brussels with offices in New York, raised $3 million in funding in February 2019. The round was led by Xange.. A US-based enterprise SaaS vendor also was involved in the round, Finsmes reported at the time, though ChannelE2E doesn't know if ServiceNow was the investor.
ServiceNow Acquires Sweagle: Executive Perspectives
In a prepared statement about the deal, ServiceNow VP RJ Jainendra said:
“With capabilities for configuration data management from Sweagle, we will empower DevOps teams to deliver application and infrastructure changes more rapidly while reducing risk. Sweagle also brings deep DevOps talent to ServiceNow. Both founders are pioneers in configuration data management, and we are honored to have this talent join our team as we continue to help customers compete and win in a digital economy.”
Added Mark Verstockt, CEO and co-founder of Sweagle:
“Today, configuration data is as important as having good code – and this is the foundation that Sweagle was built on. We are proud to join ServiceNow as it continues to enable digital transformation and drive customer success. Every day something goes wrong in a company related to bad configuration data. Together, we can help customers deliver higher-quality applications without the need for manual work, all while reducing cost.”
ServiceNow expects to complete the acquisition at the beginning of Q3 2020.
ServiceNow: Partner Expansion Plans
Under new CEO Bill McDermott, ServiceNow has accelerated its strategy to push beyond IT service management (ITSM).The company's workforce and workflow automation tools increasingly serve HR, finance, security and other departments.
The overall strategy calls for ServiceNow to march toward $10 billion in annual revenues within the next few years. The company wants to build multiple partnerships that each generate $1 billion in annual revenues.
That big-bet partner strategy started under former CEO John Donahoe, and it continues under McDermott. Key leaders in the partner effort include David Parsons, a VMware veteran who joined ServiceNow as senior VP, global alliances and channel ecosystem, in October 2018.
The hot ServiceNow deployment and consulting market has triggered M&A across the ServiceNow partner ecosystem. Key movers in the sector include Fully Managed, a private equity-backed ServiceNow partner focused on senior care facilities.
