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Glenn Wilkin - Monday, March 18, 2024
ServiceNow Buys 4Industry
ServiceNow (NYSE: NOW) shares accelerated Monday, as the leading digital workflow company making the world work better for everyone, today announced it has signed an agreement to acquire 4Industry, a Netherlands-based partner whose manufacturing technology application is built on the Now Platform, and has completed the acquisition of Smart Daily Management, a connected digital worker application from EY.
Together, the deals augment ServiceNow's existing operational technology (OT) management capabilities, adding Connected Worker solutions and enhancing expertise across key industrial markets such as manufacturing, energy and transport & logistics.
4Industry, founded in 2018, brings a mobile-enabled application to make shop floor work more intuitive, efficient, and enjoyable through a suite of digital tools and Smart Daily Management from EY, which creates more efficiency around time-consuming tasks, will enable ServiceNow's industrial customers to drive operational excellence. The technology and industry expertise from 4Industry and the Smart Daily Management application will be utilized to build a new Connected Worker solution on the ServiceNow platform, expected in 2025.
“This example of continued investment in European tech and talent,” reads today's news release,“will significantly enhance ServiceNow's long-term roadmap for its global customers, delivering continuity across IT, OT, and factory floor workers. ServiceNow will continue to maintain a strong alliance with EY and partnership with Plat4mation, an affiliated services company of 4Industry.”
NOW shares raced ahead $9.47, or 1.3%, to $753.38.
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