Adding to its collection of recent artificial intelligence (AI) startups to keep pace in a thriving market, ServiceNow Inc. on Thursday said it signed a definitive agreement to acquire Logik.ai, a provider of an AI-powered composable Configure, Price, Quote (CPQ) solution.
The purchase is intended to supercharge ServiceNow in sales and order management, the process that governs the commercial lifecycle from opportunity management, quoting and order placement, through fulfillment and delivery to renewals and expansions, according to ServiceNow.
“ServiceNow is advancing our commitment to offer robust, deeply connected CRM tools. The CPQ space is evolving, and Logik.ai is leading the way to a simpler, AI-powered selling experience across channels,” John Ball, executive vice president and general manager of CRM & Industry Workflows at ServiceNow, said in a statement announcing the deal.
“By adding Logik.ai’s industry-leading sales and commerce solution to our CRM offering, ServiceNow will further enhance our capability to sell, fulfill, and service on a single platform. It’s about delivering a fundamentally different vision and approach to traditional CRM and CPQ offerings — one that addresses the real pain points in connecting end-to-end customer experiences,” Ball said.
ServiceNow’s latest merger-and-acquisition activity underlines its aggressive strategy to stay ahead of the fast-developing AI business curve, a trillion-dollar opportunity that has seen a parade of companies forge ahead with AI agents in recent months. Besides ServiceNow, Salesforce Inc., Microsoft Corp., Adobe Inc., Alphabet Inc.’s Google, PwC and a raft of startups have unveiled agents to help humans in everyday tasks.
ServiceNow has also partnered with the likes of NVIDIA Corp. while pursuing the acquisition of talent, particularly over the past year.
Last month, the company agreed to buy Moveworks, a provider of enterprise employee AI assistants for more than 350 large companies, for $2.85 billion in cash and stock. The deal, ServiceNow’s largest ever, is expected to close in the second half of this year.
At that time, ServiceNow boasted nearly 1,000 AI customers and more than $200 million in annual contract value for its Pro Plus AI solution as of the end of 2024. The Silicon Valley company did warn Wall Street that its focus is more on developing the AI business than on generating revenue from it.
In February, ServiceNow said it bought Quality 360, which lets manufacturers identify and resolve quality issues across all stages of production. Before that, it announced acquisitions of Cuein, a conversational data platform, as well as Raytion, Advance Solutions IP, 4Industry, Ultimate Suite and others.
