ServiceNow acquires RPA startup Intellibot to bring automation to legacy systems
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Cloud computing company ServiceNow announced today that it has signed an agreement to acquire Intellibot, a robotic process automation company based in Hyderabad, India, for an undisclosed amount. ServiceNow, which is expected to complete the purchase in the second quarter of 2011, plans to natively integrate Intellibot capabilities into its platform to enable ServiceNow customers to migrate AI and machine learning to legacy systems.
RPA – technology that automates monotonous, repetitive tasks traditionally performed by human workers – is big business. Forrester estimates that RPA and other AI sub-areas created jobs for 40% of companies in 2019 and that a tenth of startups now have more digital than human employees. According to a McKinsey survey, at least a third of the activities in around 60% of the jobs could be automated. In its most recent report on Workflow Automation Trends, Salesforce found that 95% of IT leaders prioritize workflow automation. 70% see savings of more than four hours per employee per week.
Co-founded in 2015 by Alekh Barli, Srikanth Vemulapalli, and Kushang Moorthy, Intellibot offers RPA solutions designed specifically for businesses. The design studio helps with the modeling and development of RPA projects, while the orchestrator helps with cloud compatibility, multi-tenancy and compliance. In addition, Intellibot offers features such as role-based access control, version control, business and IT reporting, audit logging and 256-bit encryption.
“We are proud to partner with ServiceNow, which continues to invest in powerful end-to-end automation capabilities to improve the world of work and better work for people,” said Vemulapalli in a statement. “Our RPA in combination with ServiceNow workflows will help companies to better connect different systems with one another in order to accelerate innovation and be successful in a new working environment.”
ServiceNow SVP Josh Kahn notes that the acquisition supports ServiceNow’s broader commitment to the Indian market. The company plans to have two data centers online in India by Q1 2022 that will be part of ServiceNow’s high availability architecture as the company doubles its workforce in the country over the next three years.
ServiceNow recently released the Now Platform Quebec, which brings several AI-based and low-code capabilities to the Now Platform. According to Kahn, Intellibot will complement these technologies and expand ServiceNow’s existing integration, process mining, process automation, chatbot and virtual agent capabilities – including a link to RPA startup UiPath, which launched last April.
“ServiceNow is the platform for platforms for the workflow revolution and offers powerful end-to-end automation capabilities that customers can use to streamline business decisions and develop new levels of productivity,” said Kahn in a press release. “Our customers represent nearly 80% of the Fortune 500 companies, and the vast majority are looking to drive automation in a mix of legacy and modern applications. With Intellibot, we’re expanding ServiceNow’s ability to help customers connect systems so they can easily automate workflows and increase productivity. “
ServiceNow’s buyout – the first this year – comes after Google announced it would partner with Automation Anywhere to develop RPA capabilities and acquired Microsoft and IBM Softomotive and WDG Automation, respectively. With an estimated $ 3.97 billion market opportunity by 2025, RPA is quickly becoming too big to be ignored, according to Grand View Research. Automation Anywhere’s rival Blue Prism raised over $ 120 million, Kryon raised $ 40 million, and FortressIQ raised $ 30 million. And in July, UiPath raised $ 750 million and increased its total to $ 2 billion on a post-money valuation of $ 35 billion.
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