ServiceNow CEO Bill McDermott on buying cybersecurity startup Armis for $7.75 billion

Core Insights - ServiceNow is acquiring Armis to enhance its cybersecurity capabilities and expand its digital service offerings [1][2] - The company has consistently achieved over 20% revenue growth for the past decade, indicating strong financial health and growth potential without the need for acquisitions [2] - The acquisition will enhance ServiceNow's configuration management database, which is a key competitive advantage, by allowing automatic discovery and inventory of connected assets [3] Company Strategy - The integration of operational technology (OT) and Internet of Things (IoT) into ServiceNow's platform will create a unique AI control tower that drives workflow actions across various environments [4] - The acquisition is seen as a major growth accelerator, positioning ServiceNow as a potential trillion-dollar company [5] - ServiceNow aims to reinvent the employee experience through Agentic AI, streamlining information requests and decision-making processes [6] Market Position - ServiceNow has established a substantial competitive moat with 75 billion workflows currently in progress and trillions of transactions processed [7] - The company is focused on managing both human and non-human identities within its platform, enhancing its capabilities in cloud environments [6]