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.
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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.