Verso Capital announces a partial exit from Atrinet through a carve-out of Atrinet’s NetACE™ business to ServiceNow

(Joint press release by ServiceNow and Atrinet)

ServiceNow to acquire Atrinet NetACE network technology to accelerate business transformation for telecommunications companies (telcos). Once re-platformed into the ServiceNow platform, Atrinet’s NetACE technology will enable comprehensive, end-to-end network lifecycle management for telcos on a single, AI-first digital workflow platform.

Telcos often lack the tools and technology needed for drive efficiency in managing their network, and frequently rely on manual processes. The addition of Atrinet’s NetACE network discovery and activation capabilities to the Now platform will address these challenges by delivering stronger connectivity for telco’s workflows and greater alignment across their vast networks—from initial sales to activating and assuring a service. These new capabilities accelerate ServiceNow’s roadmap for telcos supporting ServiceNow’s Telecom Network Inventory and Order Management for Telecom products, with a significant step toward providing closed loop automation for telecommunications networks.

“The power of ServiceNow is its ability to connect the entire telecommunications stack on a single platform,” said Rohit Batra, general manager, telecom, media, and technology industries at ServiceNow. “By adding Atrinet’s discovery and activation capabilities into our Telecom industry products, we’re helping service providers manage the entire network lifecycle—driving productivity up and costs down.”

This acquisition reflects ServiceNow’s dedication to developing comprehensive, purpose-built industry solutions to help customers boost productivity, drive efficiencies, and accelerate business transformation. Through this acquisition, ServiceNow is enabling telcos to manage essential network processes including discovery, activation, field service, incident management, and initiating workflows, all from a single platform. Atrinet NetACE cloud-native product suite provides a low-code approach to automating all discovery, provisioning, and network management processes for telcos under an open network, unified management system.

In conjunction with the sale of NetACE to ServiceNow, Atrinet has become a certified ServiceNow Consulting and Implementation Partner. This partnership aims to deepen ServiceNow’s relationship with Atrinet and expand their offerings to provide implementation services to ServiceNow customers.

Atrinet is fully committed to honoring its existing contracts, ensuring the delivery of exceptional services.

“Atrinet’s mission to provide innovative operations and network automation solutions to the telco industry complements ServiceNow’s intelligent platform and commitment to driving business transformation for customers,” said Efi Levi, CEO and founder of Atrinet. “We look forward to a deep partnership with ServiceNow to help global telcos drive operational efficiencies, exceptional customer service and business growth.”

Atrinet was founded in 2013 and is headquartered in Hod-Hasharon, Israel. The acquisition of Atrinet’s NetACE™ network management and automation technology is the latest example of ServiceNow’s ongoing commitment to drive innovation in the telco industry. ServiceNow today announced it is partnering with NVIDIA to launch generative AI solutions for telcos, including Now Assist for Telecommunications Service Management (TSM), which will help telcos boost agent productivity, speed time to resolution, and enhance customer experiences. Segra, one of the largest independent fiber infrastructure bandwidth companies in the U.S., also announced it selected ServiceNow to launch its new SegraOne for Case and Incident Management. This solution will use ServiceNow Telecom Service Management to simplify everyday work and transform customer service and employee experiences by helping them resolve issues faster with AI-driven resolutions, increase transparency, and optimize omnichannel self-service.

ServiceNow expects to close the acquisition of Atrinet NetACE in Q2 2024. Financial terms of the deal will not be disclosed.

Use of forward-looking statements

This press release contains “forward-looking statements” about the expectations, beliefs, plans, intentions, and strategies relating to ServiceNow’s proposed acquisition of NetACE™ network management and automation technology from Atrinet. Such forward-looking statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. We undertake no obligation, and do not intend, to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include, without limitation, inability or delays in assimilating or integrating Atrinet’s technology into our platform; inability of ServiceNow or Atrinet to retain employees after the transaction closes; unanticipated obligations or liabilities related to Atrinet’s legacy business; potential adverse tax consequences; and disruption to our business and diversion of management attention and other resources. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.

About ServiceNow
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