ServiceNow acquires Israeli Neebula Systems For About $100 Million In Cash

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The American IT cloud company, ServiceNow (NOW ;NYSE)  , announced that it agreed to acquire Neebula Systems for about $100 million in cash.

The transaction is expected to close in this month.

Neebula’s leading product, ServiceWatch, automates the monitoring,  discovery and mapping of IT- enabled enterprise services. This addition will become an integral part of the ServiceNow IT Operations Management portfolio.

ServiceNow stated that the addition of ServiceWatch will augment the capabilities of other ServiceNow IT Operations Management products such as Event Management, Orchestration and Discovery.

Pitango owns 44% of Neebula’s shares, giving it $44 million for its investment. Before founding Neebula, CEO Yuval Cohen was an independent partner in Pitango. Genesis owns 30% of the company; its share of the exit proceeds will therefore be $30 million. 

According to Globes, Yuval Cohen, appointed CEO of Marvell Israel after the company he worked for, Radlan , was acquired by Marvell Technology Group (Nasdaq: MRVL). Previously, he served in various positions at BreezeCom, RND, and Algotech, which was acquired by Kodak in 2004. “According to the Registrar of Companies, Cohen owns 9.54% of Neebula, the same as Mohaban, and his share of the acquisition proceeds will therefore come to $9.54 million”, says Globes.

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