ServiceNow, Inc.NYSE: NOW

ServiceNow statement on M&A

· Issued by ServiceNow, Inc.

Summary by 6ix AI

Amit Zavery, president, chief product officer and chief operating officer of ServiceNow, said the company has no interest or intention of purchasing Decagon. He was responding to what he called misinformation in the market about ServiceNow's acquisition strategy.

Key details

  • Zavery said ServiceNow's approach to mergers and acquisitions has not changed and that it remains an organic growth company first, meaning it grows mainly through its own business rather than by buying others.
  • He said acquisitions are a tool to speed up ServiceNow's product plans or open meaningful new markets, not a substitute for innovation.
  • He said that, as previously noted, ServiceNow does not see major strategic gaps that require large-scale acquisitions at this time.

6ix AI wrote this summary from the release below and checked it against the release.

"We are aware of misinformation in the market today about our acquisition strategy. To be clear, ServiceNow has no interest or intention of purchasing Decagon," said Amit Zavery, president, chief product officer and chief operating officer.

"Our approach to M&A has not changed: we remain an organic growth company first. M&A is a tool to accelerate our roadmap or open meaningful new markets, not a substitute for innovation. As we have previously noted, we do not see major strategic gaps that require large-scale acquisitions at this time."

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