ServiceNow (NYSE: NOW), a Santa Clara, CA-based provider of an AI platform for business transformation, acquired Raytion, a Germany-based information retrieval technology company.
The amount of the deal was not disclosed. ServiceNow completed the acquisition of Raytion in July 2024.
With the acquisition, ServiceNow will enhance its GenAI-powered search and knowledge management capabilities. 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.
Led by Valentin Richter, Founder and CEO, Raytion offers a GenAI-powered search and knowledge management capabilities that allow for cross-enterprise data integration, pulling from the full universe of enterprise knowledge that exists in various knowledge repositories, rather than a subset.
Since 2001, 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.
FinSMEs
25/07/2024