ServiceNow is reportedly in advanced discussions to acquire identity and access management startup Veza for a deal valued at over $1 billion, according to unnamed sources cited by The Information, reports SiliconANGLE.
The potential acquisition, which could be announced imminently, would represent a significant expansion of ServiceNow's cybersecurity portfolio into the critical area of identity governance. Veza's platform specializes in securing both human and machine identities by identifying unused accounts that pose security risks, detecting accounts with excessive permissions, and ensuring compliance with policies like separation of duties. This technology would fill a notable gap in ServiceNow's current offerings, which focus more on vulnerability management and threat detection than on comprehensive identity lifecycle management.
The reported $1 billion-plus price tag is more than four times the total venture funding raised by Veza, whose investors include Workday, Salesforce, and Alphabet's GV. This move follows ServiceNow's recent pattern of major acquisitions, including the $2.85 billion purchase of AI platform Moveworks, underscoring its strategy to build out its enterprise workflow cloud through strategic consolidation.
The potential acquisition, which could be announced imminently, would represent a significant expansion of ServiceNow's cybersecurity portfolio into the critical area of identity governance. Veza's platform specializes in securing both human and machine identities by identifying unused accounts that pose security risks, detecting accounts with excessive permissions, and ensuring compliance with policies like separation of duties. This technology would fill a notable gap in ServiceNow's current offerings, which focus more on vulnerability management and threat detection than on comprehensive identity lifecycle management.
The reported $1 billion-plus price tag is more than four times the total venture funding raised by Veza, whose investors include Workday, Salesforce, and Alphabet's GV. This move follows ServiceNow's recent pattern of major acquisitions, including the $2.85 billion purchase of AI platform Moveworks, underscoring its strategy to build out its enterprise workflow cloud through strategic consolidation.
