ServiceNow acquires Loom System

ServiceNow will acquire Loom Systems, an Israeli AIOps start-up company. The financial terms of the transaction were not disclosed. The acquisition will expand ServiceNow’s AIOps capabilities, allowing customers to have a deeper understanding of their digital operations, so that they can quickly prevent and solve IT problems.

“Today, IT departments are struggling to meet performance expectations and keep up with the growing demand for new high-quality digital services”, Jeff Hausman, ServiceNow’s vice president and general manager of IT operations management, said in a statement. “By combining Loom Systems’ ability to analyze logs and metric data with AIOps and ServiceNow’s workflow automation capabilities, IT departments will be able to proactively identify and solve problems. Operate and provide their customers and employees with an end-to-end experience.”

Loom Systems expanded ServiceNow’s ServiceNow’s IT Service Management (ITSM) and iIT Operations Management (ITOM) solutions to improve customers’ ability to apply AI to the incident and patch knowledge base, thereby better understanding the root cause of the problem Perform repair tasks automatically.

Headquartered in Tel Aviv and San Francisco, Loom System was founded by Gabby Menachem (CEO), Ronny Lehman (CTO) and Dror Mann (Vice President of Product). It has benefited from two fundraising events, the most recent being in November 2019, and it has raised $16 million since its establishment in 2015.

ServiceNow expects to complete the transaction by the end of the first quarter of 2020.