According to sources at The Information, ServiceNow is looking to acquire the start-up Veza.
According to The Information, ServiceNow is in advanced talks to acquire Veza. It is an identity security start-up that helps organizations better manage accounts and access rights. The deal is estimated at over $1 billion, more than four times what Veza has raised to date.
Identity management
Veza develops a platform that shows companies which user and machine accounts have access to which systems. It tracks unused accounts and detects incorrect access rights. In addition, it automatically inventories all machine identities in an environment, something that is becoming increasingly important in modern, highly automated infrastructures.
Strategic Expansion
ServiceNow already has some security features, such as vulnerability management and threat analysis, but lacks in account and identity management. Veza would directly close that gap and strengthen the platform in a segment where competitors are stronger.
The potential acquisition fits into a recent series of major purchases. Earlier this year, ServiceNow paid $2.85 billion for Moveworks, and also acquired data.world to expand its data management and AI portfolio. According to sources, the acquisition of Veza could be officially announced as early as next week.