ServiceNow acquires SaaS optimization expert VendorHawk

ServiceNow has acquired the start-up company VendorHawk. The SaaS platform used to manage IT and business services did not disclose the transaction price, but specified in the press release that it was conducted entirely in cash. The operation should be completed within the next few days.

VendorHawk has developed a technology that allows companies to improve the use and cost of SaaS by identifying, optimizing, and rationalizing applications, especially by mapping redundant applications. The Seattle-based company has a database of more than 36,000 SaaS applications.

As a new component of the Now platform, this technology will enhance the next version of the ServiceNow software asset management product, which will be delivered in 2019.

“Adding the functionality of VendorHawk to our software asset management services enhances the unique value of ServiceNow, integrating basic functions into a single integrated platform, greatly improving efficiency and improving employee experience at the same time,” ServiceNow CEO Farrell Hough said in a statement. “A comprehensive understanding of all software assets is essential to carefully rationalize and optimize customers’ software expenditures in the digital transformation process.”

“We have been committed to enabling our customers to discover and manage thousands of instances of SaaS assets within the organization”, As far as he is concerned, said Patrick Lowndes, CEO of VendorHawk. “By adding this feature to their complete platform, ServiceNow continues to provide great value to their customers, providing visibility into SaaS so they can take action as needed.”