ServiceNow Snaps Up Pyramid Analytics in Nine-Figure Deal
Enterprise software giant ServiceNow acquires BI tools maker Pyramid Analytics for hundreds of millions of dollars.
ServiceNow is buying Pyramid Analytics, a business intelligence and analytics platform provider. The deal is reportedly worth several hundred million dollars.
Pyramid Analytics had previously raised $200 million in funding. The acquisition price suggests investors won't be popping champagne — returns look modest at best.
The move gives ServiceNow deeper analytics capabilities to bolt onto its enterprise workflow platform. Pyramid's BI tools help companies visualize and analyze their data without heavy lifting from IT teams.
For ServiceNow, this is about beefing up its analytics muscle. For Pyramid's backers, it's an exit — just not a spectacular one. The deal adds another chapter to the ongoing consolidation in the enterprise software space.