ServiceNow is in talks to acquire identity management startup Veza for over $1 billion (over €863 million). The deal would strengthen its user and machine identity management offering.
According to sources at The Information, ServiceNow is at an advanced stage of negotiations. Veza has raised around $250 million in funding to date. The startup is backed by investors such as Workday, Salesforce, and Alphabet’s GV fund.
Veza offers a platform for managing access rights within companies. The platform identifies unused accounts that pose a security risk. In addition, the solution tracks down active accounts with unnecessary access to sensitive systems. For organizations that implement a separation-of-duties policy, Veza can verify whether accounts meet those requirements.
In addition to employee accounts, Veza focuses on machine identities. These are the accounts and integrations that applications use to communicate with each other. The platform automatically creates an inventory of these machine identities within an organization’s network.
ServiceNow can currently identify vulnerabilities, prioritize them by risk, and detect attempts to exploit them. However, it lacks comprehensive capabilities for managing user and machine identities. With Veza’s technology, ServiceNow could close that gap.
Addition to recent acquisitions
In March, ServiceNow closed a $2.85 billion deal for Moveworks, a company that developed an AI productivity platform for knowledge workers. This software automates tasks such as searching internal documents and processing help desk requests.
ServiceNow also recently acquired data.world, a data management startup. The platform helps companies organize data for AI and analytics projects. data.world includes security controls that allow administrators to regulate which employees have access to which company information.
ServiceNow may announce the Veza acquisition next week, according to The Information.