ServiceNow denied Tuesday (Oct. 13) media reports suggesting it has shown interest in purchasing Decagon, a developer of artificial intelligence (AI) agents.

Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

Seeking Alpha reported Tuesday (Oct. 13), citing a paywalled article by Business Insider, that Decagon has hired a bank to evaluate purchase interest and has talked with ServiceNow and other companies about a potential sale.

The talks about a potential sale were in their early stages, and a deal may not happen, according to the report.

ServiceNow replied to PYMNTS’ request for comment with an emailed statement from Amit Zavery, the company’s president, chief product officer and chief operating officer.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

“We are aware of misinformation in the market today about our acquisition strategy,” Zavery said. “To be clear, ServiceNow has no interest or intention of purchasing Decagon.”

“Our approach to M&A has not changed: we remain an organic growth company first,” Zavery said. “M&A is a tool to accelerate our roadmap or open meaningful new markets, not a substitute for innovation. As we have previously noted, we do not see major strategic gaps that require large-scale acquisitions at this time.”

5 billion in a Series D funding round in which it raised $250 million. The company’s valuation was three times higher than the one it achieved six months earlier, according to the post.

Source link