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ServiceNow to Acquire Passage AI

Acquisition will advance ServiceNow’s native AI capabilities to help work flow more smoothly across the enterprise, in all major languages

SANTA CLARA, Jan. 28, 2020 – ServiceNow (NYSE: NOW), the company making work, work better for people, today announced it has signed an agreement to acquire Passage AI, a Mountain View, Calif.–based conversational AI platform company. The transaction will advance ServiceNow’s deep learning AI capabilities and will accelerate its vision of supporting all major languages across the company’s Now Platform and products, including ServiceNow Virtual Agent, Service Portal, Workspaces and emerging interfaces.

“Work flows more smoothly when people can get things done in their native language,” said Debu Chatterjee, senior director of AI Engineering at ServiceNow. “Building deep learning, conversational AI capabilities into the Now Platform will enable a work request initiated in German or a customer inquiry initiated in Japanese to be solved by Virtual Agent. Passage AI’s technology will enable us to accelerate our vision of empowering great employee and customer experiences by delivering great workflow experiences. ServiceNow believes in making work flow more smoothly across the enterprise, in all major languages.”

Passage AI’s conversational AI platform is built on deep learning models that can be trained to understand text in all major languages. Bringing together Passage AI’s conversational AI capabilities with it’s Now Platform and digital workflow capabilities, ServiceNow will expand its chatbot support for non–English languages and empower organizations to better understand the meaning behind work requests so they can take action to get the job done.

As a strategic partner to the world’s largest enterprises, ServiceNow is focused on enabling digital transformation and driving customer success. The Now Platform includes powerful AI and machine learning capabilities, which enable customers to deliver great employee and customer experiences and unlock productivity. This deal builds on ServiceNow’s previous AI acquisitions, including transactions with Loom Systems, Attivio, Parlo, FriendlyData, Qlue and DxContinuum.

Passage AI was founded in 2016 by CEO Ravi N. Raj, CTO Madhu Mathihalli and CTO Mitul Tiwari.

ServiceNow expects to complete the acquisition by the end of Q1 2020. Financial terms of the deal were not disclosed.

Forward–Looking Statements

This release contains forward–looking statements about the expectations, beliefs, plans, intentions and strategies relating to ServiceNow’s acquisition of Passage AI. Such forward–looking statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. These statements reflect the current beliefs of ServiceNow and are based on current information available to ServiceNow as of the date hereof. ServiceNow does not assume any obligation to update the forward–looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. The forward–looking statements in this release are subject to various risks and uncertainties that could cause actual outcomes and results to differ materially and adversely from those expressed in such forward–looking statements. These risks and uncertainties include, without limitation, the inability to assimilate or integrate Passage AI’s technology into our platform; the inability to retain key employees of Passage AI after the transaction closes; unanticipated expenses related to Passage AI’s acquired technology; potential adverse tax consequences; disruption to our business and diversion of management attention and other resources; and potential unknown liabilities associated with Passage AI’s business.

About ServiceNow

ServiceNow (NYSE: NOW) is making the world of work, work better for people. Our cloud–based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. For more information, visit: www.servicenow.com.

© 2020 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.

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Contacts
Public Relations
Sara Day, ServiceNow
press@servicenow.com

Investor Relations
Kendall Toyne, ServiceNow
ir@servicenow.com

// Commenting on 02/23/2020 // To fix the slow page load on prod //Check with Zan and Alex later to see if we can add through Launch // Commenting on 02/23/2020 // To fix the slow page load on prod //Check with Zan and Alex later to see if we can add through Launch

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