ServiceNow Acquires Raytion to Enhance GenAI-powered Search and Knowledge Management Capabilities on the Now Platform
July 24 2024 - 8:30AM
Business Wire
Raytion’s industry-leading information
retrieval technology will enable unified real-time access to
business-critical data across multiple enterprise sources for a
more powerful, efficient, and personalized AI search experience,
all on a single technology platform
ServiceNow (NYSE: NOW), the AI platform for business
transformation, today announced it has acquired Raytion to enhance
GenAI-powered search and knowledge management capabilities on the
Now Platform. Raytion’s industry-leading information retrieval
technology will enable unified real-time access to
business-critical data across multiple enterprise sources for a
more powerful, efficient, and personalized AI search experience,
all on a single technology platform.
The complexity of modern enterprise environments will drive the
need for more intelligence about the data, so that organizations
can take control of highly distributed, diverse, and dynamic
information1. With Raytion technology combined with ServiceNow AI
Search, users can find the answers they require without having to
know exactly where the information is located. Raytion’s technology
will integrate secure access to information from enterprise data
sources and allow ServiceNow’s AI Search to provide users with an
industry-leading, intelligent search experience and the information
they need, all from a single entry point. This includes data within
ServiceNow and from third-party systems.
“ServiceNow is accelerating work, uniting fragmented data into a
single, intelligent platform that helps customers access and share
knowledge across their organizations,” said Jon Sigler, senior vice
president, Platform and AI, at ServiceNow. “Raytion’s information
retrieval technology will set us apart by making relevant data
sources searchable so everyone—employees, customers, and agents—get
the answers they need, when they need them.”
Raytion’s GenAI-powered search and knowledge management
capabilities allow for cross-enterprise data integration, pulling
from the full universe of enterprise knowledge that exists in
various knowledge repositories, rather than a subset. When combined
with the ServiceNow Now Assist GenAI experience, data moves beyond
disparate information to now providing users with more
comprehensive, relevant search results in one centralized location,
helping boost self-service and case deflection. ServiceNow's single
data model – which seamlessly integrates people, services, and
systems to empower AI capabilities – takes this even further,
enabling a more personalized experience for users, drawing on
employee history like previous searches and interactions so results
are more relevant and tailored to their unique needs.
“Enriching GenAI with the specific up-to-date information an
employee has access to across all relevant data sources makes not
only business processes smarter but the whole enterprise,” said
Valentin Richter, founder and CEO of Raytion. “The combination of
ServiceNow’s single platform with Raytion’s secure enterprise data
integration technology gives businesses a competitive advantage,
allowing employees to solve problems and take informed action
faster. We’re bringing together business-critical information with
intelligent GenAI-powered search and reliable data retrieval, all
in one place.”
Since 2001, Germany-based Raytion has been implementing and
operating large-scale business solutions for Global 500 companies
and organizations worldwide. For ServiceNow, this announcement
follows previous acquisitions of Enable OH&S technology, Hitch
Works, and 4Facility technology as part of the company’s ongoing
commitment to drive AI transformation on a global scale, enhance
employee experiences, and power the future of work. ServiceNow
completed the acquisition of Raytion in July 2024. Financial terms
of the deal were not disclosed.
Use of forward-looking statements
This press release contains "forward-looking statements" about
the expectations, beliefs, plans, intentions, and strategies
relating to ServiceNow’s proposed acquisition of Raytion. Such
forward-looking statements include statements regarding future
product capabilities and offerings and expected benefits to
ServiceNow. Forward-looking statements are subject to known and
unknown risks and uncertainties and are based on potentially
inaccurate assumptions that could cause actual results to differ
materially from those expected or implied by the forward-looking
statements. If any such risks or uncertainties materialize or if
any of the assumptions prove incorrect, our results could differ
materially from the results expressed or implied by the
forward-looking statements we make. We undertake no obligation, and
do not intend, to update the forward-looking statements. Factors
that may cause actual results to differ materially from those in
any forward-looking statements include, without limitation,
inability or delays in assimilating or integrating Raytion’s
technology into our platform; inability to retain employees of
Raytion after the transaction closes; unanticipated obligations or
liabilities related to Raytion’s legacy business; potential adverse
tax consequences; and disruption to our business and diversion of
management attention and other resources. Further information on
factors that could affect our financial and other results is
included in the filings we make with the Securities and Exchange
Commission from time to time.
About ServiceNow
ServiceNow (NYSE: NOW) is putting AI to work for people. We move
with the pace of innovation to help customers transform
organizations across every industry while upholding a trustworthy,
human centered approach to deploying our products and services at
scale. Our AI platform for business transformation connects people,
processes, data, and devices to increase productivity and maximize
business outcomes. For more information, visit:
www.servicenow.com.
© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the
ServiceNow logo, Now, and other ServiceNow marks are trademarks
and/or registered trademarks of ServiceNow, Inc. in the United
States and/or other countries. Other company names, product names,
and logos may be trademarks of the respective companies with which
they are associated. http://www.servicenow.com
1Source: IDC Worldwide Public Cloud Platform as a Service
Forecast, 2023–2027
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version on businesswire.com: https://www.businesswire.com/news/home/20240724180566/en/
Media Relations Brandon Brunson 512.680.4385
press@servicenow.com
Investor Relations Darren Yip 925.388.7205
ir@servicenow.com
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