ServiceNow Snaps Up Security Software Startup
ServiceNow (SERVICENOW), one of just three cloud-born software companies to surpass $1 billion in annual revenue (Salesforce (CRM) and Workday (WDAY) are the other two), just made its second acquisition in the past two months.
Under its latest deal, disclosed Wednesday, ServiceNow has made an all-cash offer for BrightPoint Security, which sells software and analytics services for detecting cyberattacks on corporate networks and data centers.
Terms weren’t disclosed, although the deal should close within a month. ServiceNow promised more details when it shares second-quarter financials (something that likely won’t happen until late June or early July, based on past reporting schedules).
ServiceNow has historically focused on systems for helping companies manage technology processes and other customer service processes, but it expanded into security response services back in February. This technology it is acquiring with BrightPoint will contribute to that product offering, although no timetable was provided. The idea is to help automate detection and response.
Four-year-old BrightPoint (which used to be known as Vorstack) is closely allied with several of the largest forces in security software, including IBM (IBM) and EMC’s RSA Security division (EMC). It has raised approximately $8.4 million in venture capital.
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ServiceNow made another all-cash acquisition in early April, buying Itapp, a provider of software for managing cloud services within the context of a broader IT organization. The terms of that transaction weren’t revealed either, but the technology should we integrated into ServiceNow’s system by 2017.