ServiceNow (NOW) Up More than 5% Since Veza Acquisition Announcement

Core Insights - ServiceNow, Inc. announced its intent to acquire Veza, a leader in Identity Security, which has led to a 5% increase in its share price since the announcement, although the stock is still down 17.95% year-to-date [1][2] Group 1: Acquisition Details - The acquisition targets a critical cybersecurity gap related to managing access permissions for humans, machines, and AI agents, especially with the rise of AI-powered threats [2] - The integration of Veza's technology aims to enhance ServiceNow's Security and Risk products by creating a unified platform and improving its AI Control Tower and security suite [2][4] - The deal is expected to close at over $1 billion, although specific transaction details were not disclosed [4] Group 2: Market Sentiment - Following the acquisition announcement, Wall Street's sentiment towards ServiceNow has turned positive, with analysts from Mizuho Securities and Barclays reiterating Buy ratings with price targets of $1,150 and $1,225, respectively [3][4] - Analyst Gregg Moskowitz highlighted Veza as an interesting asset due to its potential synergy with ServiceNow's existing risk and security business [4] Group 3: Company Overview - ServiceNow provides a platform that integrates workflows, data, and AI to coordinate operations across large organizations, headquartered in Santa Clara, California, and manages tens of billions of workflows annually [5]