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New Deal


Announced

ServiceNow to acquire Hitch Works.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Friendly

Domestic

Acquisition

Single Bidder

mapping software

Software

Majority

Pending

United States

Private

Synopsis

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ServiceNow, a cloud-based workflow automation platform, agreed to acquire Hitch Works, a skills mapping and intelligence company. Financial terms were not disclosed. "If skills are the new currency for business, insight into these skills is critical to driving talent retention and adapting to evolving business needs. But skills management has historically been siloed, with numerous point solutions and fragmented processes that don't work together. With Hitch, ServiceNow will streamline skills intelligence on a single platform to help business leaders match employees with meaningful work," Gretchen Alarcon, ServiceNow Vice President and General Manager of HR Service Delivery.

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