Deals

ServiceNow to Buy Element AI in Artificial Intelligence Push

Jean-Francois Gagné, co-founder and chief executive officer of Element AI.
Photographer: David Paul Morris/Bloomberg

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By Nico Grant

November 30, 2020 at 12:30 PM UTC

Updated on

November 30, 2020 at 4:54 PM UTC

This article is for subscribers only.

ServiceNow Inc. will buy Canadian startup Element AI Inc., marking the software maker’s fourth acquisition this year to boost the artificial intelligence capabilities of its applications.

The transaction is expected to close in early 2021, the Santa Clara, California-based company said Monday in a statement, without disclosing the terms of the deal. Element AI, based in Montreal, has reportedly raised more than $250 million in funding since its 2016 founding.