ServiceNow to add G2K’s smart IoT technology to the Now Platform, enabling businesses to intelligently action digital and in‑store data with enterprise‑grade workflows.

Here’re 11 things you need to know about G2K acquisition:

  1. Acquisition Details: ServiceNow, a digital workflow company, has announced plans to acquire G2K, an artificial intelligence (AI) powered platform for transforming retail and other industries. The deal is still subject to regulatory approval and is expected to close in the third quarter of 2023. The financial terms of the acquisition have not been disclosed.
  2. Enhanced Capabilities: This acquisition will allow ServiceNow to integrate G2K’s AI capabilities into its Now Platform. This will enhance ServiceNow’s enterprise-grade workflows by adding smart IoT technology, enabling businesses to intelligently action digital and in-store data.
  3. Transforming Retail: G2K’s AI-powered technology is designed to help businesses plan inventory based on demand, improve on-site customer experiences, address in-store maintenance or mechanical issues, and increase employee productivity. By acquiring G2K, ServiceNow intends to transform retail operations and experiences.
  4. Cross-Industry Application: Although the focus is initially on the retail industry, the technology and benefits from this acquisition are expected to apply to other sectors in the future, such as transportation, healthcare, entertainment, and manufacturing.
  5. Connected Vision: The merger of ServiceNow and G2K aims to create a connected vision for customers and transform the world of work, addressing the issue of fractured operations across the enterprise due to various AI point solutions.
  6. Data Insights and AI Integration: G2K’s technology allows businesses to connect real-time data across storefronts and other physical spaces. The integrated AI translates this data into actionable insights. This acquisition underpins ServiceNow’s commitment to bring additional layers of AI-driven value to customers.
  7. Future of Work: The acquisition reflects ServiceNow’s focus on co-creating the future of work with customers by providing greater simplicity and efficiency across various industries.
  8. Significant Addition to ServiceNow’s Portfolio: This acquisition follows ServiceNow’s recent acquisitions of Hitch Works and Element AI, reinforcing its commitment to expand its AI capabilities.
  9. G2K’s Profile: G2K, founded in 2013, is headquartered in Munich, Germany, with additional offices in Berlin, Cairo, Dubai, and Mexico. The company has been recognized as one of Germany’s Top 100 Most Innovative Companies.
  10. ServiceNow’s Profile: ServiceNow, founded in 2004, is based in Santa Clara, California, specializes in Service Management, Enterprise Cloud, Custom App Development, Platform, ITSM, Security Operations, Customer Service Management, ITOM, GRC, HR Service Delivery, and digital workflows.
  11. Stakeholder Comments: Senior executives from both companies expressed their excitement about the acquisition. Karel van der Poel, senior vice president and general manager at ServiceNow, stated, “This acquisition allows ServiceNow to create even greater simplicity and efficiency for our customers’ growing needs across any industry.” Omar El Gohary, chief technology officer and co-founder at G2K, expressed optimism about the ability of the merged entities to transform the world of work for retail and beyond.
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