German KM Company Raytion Acquired

Santa Clara, California-based workflow management software firm ServiceNow has acquired German information retrieval and knowledge management company Raytion. Financial terms were not disclosed.

Formed in 2001 and based in Düsseldorf, Raytion provides a platform allowing corporations to scan their internal data with a search engine-like interface, share it and collaborate across the organisation. Specifically, its solutions help firms to simplify, organize and optimize parts selection and management; enhance their procurement operations; and analyse and manage product lifecycle.

ServiceNow says the buy will allow it to include unified real time access to business critical data across multiple enterprise sources on its AI-based platform: 'users can find the answers they require without having to know exactly where the information is located'. External data can also be included, and ServiceNow's existing AI functionality can customise results to reflect known interests and past behavior of individual employees using the tools.

ServiceNow's SVP of Platform and AI Jon Sigler comments: 'ServiceNow is accelerating work, uniting fragmented data into a single, intelligent platform that helps customers access and share knowledge across their organizations. Raytion's information retrieval technology will set us apart by making relevant data sources searchable so everyone - employees, customers, and agents - get the answers they need, when they need them'.

Valentin Richter, founder and CEO of Raytion says the combination will allow employees to solve problems and take informed action faster, adding: 'Enriching GenAI with the specific up to date information an employee has access to across all relevant data sources makes not only business processes smarter but the whole enterprise'.

Web sites: www.servicenow.com and www.raytion.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.