ServiceNow denies interest in acquiring Decagon

Investing.com -- ServiceNow has denied reports that it is interested in acquiring Decagon, calling the rumors false.

"We are aware of misinformation in the market today about our acquisition strategy. To be clear, ServiceNow has no interest or intention of purchasing Decagon," said Amit Zavery, president, chief product officer and chief operating officer.

Zavery said the company's approach to mergers and acquisitions remains unchanged, with ServiceNow prioritizing organic growth. He said M&A serves as a tool to accelerate the company's roadmap or enter new markets, rather than replace innovation.

"As we have previously noted, we do not see major strategic gaps that require large-scale acquisitions at this time," Zavery added.

On Tuesday, Business Insider reported that Decagon, which was valued at $4.5 billion earlier this year, hired a bank to evaluate acquisition interest. The report said Decagon has been in early acquisition discussions with ServiceNow and other potential buyers, citing people familiar with the matter.

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