ServiceNow to Acquire Loom Systems
January 2020 by Marc Jacob
ServiceNow announced it has signed an agreement to acquire Loom Systems, an Israel-based AIOps company. The transaction will extend ServiceNow’s AIOps capabilities, giving customers deeper insights into their digital operations so they can prevent and fix IT issues at scale before they become problems.
Loom Systems extends ServiceNow’s IT Service Management (ITSM) and IT Operations Management (ITOM) solutions, which help companies unlock productivity and drive operational efficiency on a single platform. With Loom Systems, ServiceNow will increase customers’ ability to apply AI to their knowledge base of issues and fixes for better insights into root causes and allow them to automate remediation tasks, reducing the number of Level 1 IT incidents.
Enterprises undergoing digital transformation often face new problems that can’t be defined in advance. Loom Systems helps automate manual processes, mitigate operational issues in new environments and maintain a high standard of availability for customers and employees. Within hours, IT teams will be able to identify issues that may not have surfaced using traditional log management tools.
Loom Systems was founded in 2015 by CEO Gabby Menachem, CTO Ronny Lehmann and Vice President of Product Dror Mann.
ServiceNow expects to complete the acquisition by the end of Q1 2020. Financial terms of the deal were not disclosed.