ServiceNow is acquiring Intellibot, a robotic process automation (RPA) software company. This acquisition is of great significance to the MSP that uses ServiceNow to co-manage services in the mid-market and enterprise environments. The financial terms of the transaction were not disclosed.
This is the 186th technology M&A transaction covered by ChannelE2E so far in 2021. View all technology M&A transactions in 2021 and 2020 listed here.
Intellibot was founded in 2015 and has less than 50 employees listed on LinkedIn. Nevertheless, this acquisition may still have a significant impact on ServiceNow’s partner ecosystem-including global system integrators, IT consulting companies, MSPs and ISVs (Independent Software Vendors).
RPA software market forecast, growth and competition
RPA software allows companies to write code and robots to quickly automate manual tasks across multiple departments-from IT service desk to human resources, finance, customer support, etc. The demand for RPA software is accelerating. In fact, global RPA Gartner data shows that software revenue in 2021 is expected to reach 1.89 billion US dollars, an increase of 19.5% over 2020.
In the market growth, many companies are acquiring RPA software providers and related RPA consulting skills. Major RPA software companies include Automation Anywhere, Blue Prism, UiPath, and Microsoft Power Automate.
Now, ServiceNow is entering the RPA operation. The buyer said that Intellibot has expanded ServiceNow’s core workflow capabilities by helping customers automate repetitive tasks to achieve intelligent end-to-end automation. ServiceNow intends to build the capabilities of Intellibot natively into the Now platform to “enable customers to more easily integrate with modern and legacy systems to increase productivity and strengthen existing artificial intelligence (AI) and machine learning (ML) work,” The buyer added.
ServiceNow’s acquisition of Intellibot: The executive perspective of RPA software
Srikanth Vemulapally, Chief Technology Officer, Intellibot
Josh Kahn, Senior Vice President of Workflow Products for ServiceNow Creators
In a prepared statement about the deal, Josh Kahn, Senior Vice President of Workflow Products for ServiceNow Creators, said:
“ServiceNow is a platform for workflow revolution, providing powerful end-to-end automation capabilities that enable customers to simplify business decisions and unlock new levels of productivity. Our customers account for nearly 80% of the Fortune 500, and most of them are Try to promote automation through a combination of traditional and modern applications. With Intellibot, we will expand ServiceNow’s ability to help customers connect to systems so that they can easily automate workflows and increase productivity.”
Added Srikanth Vemulapalli, CTO and co-founder of Intellibot:
“We are proud to work with ServiceNow because it continues to invest in powerful end-to-end automation capabilities to make the world of work work better for people. The combination of our RPA and ServiceNow workflow will help companies better connect different System to accelerate innovation and thrive in the new world of work.”
Vemulapalli co-founded Intellibot in 2015 with CEO Raghu “Alekh” Barli and COO Kushang Moorthy. ServiceNow expects to complete the acquisition in the second quarter of 2021.
RPA software for MSP, supporting mid-market and SMB customers
Most of the RPA software industry is focused on corporate customers. Nevertheless, as MSP seeks to further automate internal and customer operations, RPA may even eventually become popular in the SMB market.
Especially Microsoft, may stimulate the popularity of RPA in the SMB environment. In fact, Microsoft Power Automate software now provides a free version for Windows 10 users.
At the same time, the transaction between ServiceNow and Intellibot has a potential impact on MSPs that use ServiceNow to provide co-managed services. The fact that Intellibot has a multi-tenant design indicates that the RPA platform may be an ideal choice for service providers who want to manage RPA software across multiple customer settings. In addition, MSPs can use Intellibot to further automate their own business processes.
Even before the Intellibot transaction, ServiceNow’s software had become an ITSM (IT Service Management) co-management bridge between the MSP and the corporate IT department already running ServiceNow.
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