“Today, configuration data is as important as having good code – and this is the foundation that Sweagle was built on,” said Mark Verstockt, CEO and co-founder of Sweagle. “We are proud to join ServiceNow as it continues to enable digital transformation and drive customer success. Every day something goes wrong in a company related to bad configuration data. Together, we can help customers deliver higher-quality applications without the need for manual work, all while reducing cost.”
Sweagle was founded in 2017 by CEO Mark Verstockt and CTO Benny Van de Sompele.
ServiceNow expects to complete the acquisition at the beginning of Q3 2020. Financial terms of the deal were not disclosed.
This press release contains forward-looking statements about the expectations, beliefs, plans, intentions, and strategies relating to ServiceNow’s acquisition of Sweagle. 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 press 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 Sweagle’s technology into our platform; the inability to retain key employees of Sweagle after the transaction closes; unanticipated expenses related to Sweagle’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 Sweagle’s business.