ServiceNow bets $40 million on Indian banking software specialist to expand its financial services push
TechCrunch
ServiceNow has invested $40 million for a 5% stake in Indian banking software specialist BusinessNext to accelerate its global financial services expansion.Summary
ServiceNow has acquired a roughly 5% stake in BusinessNext through a $40 million investment, valuing the Indian banking software specialist at $700 million. The partnership combines BusinessNext's customer-facing banking workflows and AI-driven platforms with ServiceNow's robust back-office automation and global sales network. BusinessNext, which serves major financial institutions globally and generates half of its revenue internationally, selected ServiceNow over traditional financial investors to leverage its extensive go-to-market infrastructure.
(Source：TechCrunch)