ServiceNow Acquires Database Performance Software Company Swarm64
This is technology M&A deal number 494 that ChannelE2E has covered so far in 2021.
- See all technology M&A deals for 2021 and 2020 listed here.
- See all ServiceNow acquisitions listed here.
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In this deal, Swarm64 will help ServiceNow improve its ability to scale digital workflows, the buyer says.
In a prepared statement about the deal, Joe Davis, senior VP of platform engineering at ServiceNow, said:
“Customer environments have experienced an explosive growth in data volume. Swarm64’s expertise in database performance and scalability allows us to plan for the future by helping us deliver increasingly larger and more intelligent workflows for our customers.”
Swarm64 Database Business Background, Venture Funding
Swarm64, founded in 2013, has 30 employees listed on LinkedIn. The company develops software that combines analytics and transactional database functionality. Swarm64’s key offerings include the Swarm64 Database Accelerator, PG Nitrous, a PostgreSQL cloud database and PostgreSQL performance engineering support.
Swarm64 was venture-backed ahead of the M&A deal. Xilinx invested an undisclosed sum in Swarm64 in 2019. Earlier, Swarm64 in 2018 raised $12.5 million in Series B funding led by Intel Capital and Investinor. A Series A round in 2015 raised €7.1 million
Swarm64’s existing partnerships span two categories:
- Support and Service Partners such as 2ndQuadrant PostgreSQL, Command Prompt Inc., Credative, CynerTec, EDB Postgres, and Hopla Software.
- Platform partners such as Amazon Web Services (AWS), Microsoft Azure, OVHcloud, Hewlett Packard Enterprise, Intel, Nutanix and Xilinx.
ServiceNow’s Business Evolution: Organic and Acquisitions
ServiceNow is best known for its IT service management (ITSM) software. But the company has evolved to offer more workflow automation opportunities in HR, finance, SecOps and beyond.
ServiceNow CEO Bill McDermott, formerly leader of SAP, has been driving the business evolution. And the recent results are impressive: The company’s revenue was $1.4 billion in Q2 2021 — up 32 percent from the corresponding quarter last year.
The growth strategy also involves growing ServiceNow’s partner ecosystem. Toward that end, ServiceNow hired Deloitte Consulting veteran Erica Volini in August 2021 as senior vice president of global alliances & channel ecosystem (ACE) go-to-market (GTM) operations.
Additional insights from Joe Panettieri.