22 January 2020:

Digital workflow company ServiceNow, today announced it has signed an agreement to acquire Israel-based AIOps company Loom Systems.

The transaction will extend ServiceNow’s AIOps capabilities, giving customers deeper insights into their digital operations so they can prevent and fix IT issues at scale before they become problems.

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

Jeff Hausman, Vice President and General Manager of IT Operations Management at ServiceNow, said, “Today, IT departments struggle to meet performance expectations and keep pace with the growth in demand for new, great digital services. By bringing together Loom Systems’ ability to analyze log and metrics data with ServiceNow’s AIOps and workflow automation capabilities, IT departments will be able to proactively pin-point and resolve operational issues, enabling seamless experiences for their customers and employees.”

Gabby Menachem, CEO of Loom Systems, said, “As a strategic partner to the world’s largest enterprises, ServiceNow is enabling digital transformation and driving customer success. By joining forces, we have the unique opportunity to bring together our AI innovations and ServiceNow’s AIOps capabilities to help customers prevent and fix IT issues before they become problems. We are excited to join the ServiceNow team to help IT organizations respond at the speed of today’s digital business.”

Loom Systems was founded by Gabby Menachem, Ronny Lehmann and Dror Mann in 2015.

(Source – ServiceNow)

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