ServiceNow acquires AI for IT startup Loom Systems

ServiceNow today announced that it’s acquired Loom Systems to strengthen automated insights for customers using the Now platform for digitizing workflows to quickly fix IT issues. Loom Systems CEO Gabby Menachem and part of the Loom Systems team will join ServiceNow as part of the deal. The financial terms of the deal were not disclosed.

Loom Systems tech will be integrated with ServiceNow’s IT Service Management (ITSM) and IT Operations Management (ITOM) solutions.

Based in Israel, Loom Systems can analyze software log data across applications in the cloud or on premises to help organizations manage operations. The resulting data can be used for anomaly detection, recommend task remediation in plain language, or automate the creation of incident reports, or automate tasks with ServiceNow workflows.

The acquisition today follows ServiceNow’s 2018 acquisition of NLP startup Parlo to improve the Now platform.

Loom Systems and others like Coralogix are part of a series of companies using machine learning to detect anomalous behavior or patterns in software logs. Like DevOps companies, AI for IT management or AIOps is a growing area of focus for AI startups growing adjacent to the AI industry.

Loom Systems was founded in 2015 by CEO Gabby Menachem, CTO Ronny Lehmann, and VP Dror Mann. ServiceNow expects the deal to close by the end of Q1 2020.

via VentureBeat https://ift.tt/2Rh2lsl

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