The automation company for managed and cloud services BitTitan has acquired Perspectium, a ServiceNow partner that develops package integration processes for the IT service management platform (ITSM). In other words, Perspectium is helping MSPs and customers make ServiceNow the system of recording across multiple systems. Financial details of the transaction were not disclosed.
Together, the combined companies will be positioned to “map the future of the provision, operation and management of IT services,” explains BitTitan.
The BitTitan Perspectium deal strengthens ServiceNow’s growing presence in the MSP (Managed IT Services Provider) sector. Top 100 Vertical Market MSPs such as Fully Managed and Thrive have based their growth largely on ServiceNow-related business opportunities. The same goes for Ensono, a top 250 public cloud MSP that KKR recently acquired for an estimated $ 1.7 billion.
What is driving the ServiceNow MSP adoption wave? The short answer is for midsize, co-managed services based on ServiceNow, as ChannelE2E mentioned earlier.
Why BitTitan ServiceNow Partner has acquired Perspectium
BitTitan is now jumping into the ServiceNow campaign. The newly acquired Perspectium solutions enable the seamless takeover of ServiceNow functions by eliminating information and data silos. With these solutions, customers can synchronize tens of millions of data records every day, so that ServiceNow data is the system-wide recording system, ”says BitTitan.
Perspectium employs around 75 people in North America and Europe. The acquired company serves approximately 20 percent of the Fortune 500 companies in the United States. Perspectium closed a Series B financing round of $ 8 million with a second investment from TVC Capital in April 2019.
BitTitan has now migrated more than 25 million users to the cloud for 46,000 customers. The buyer is already helping MSPs with the automation of various cloud processes from Microsoft 365, Google Workspace and Amazon Web Services (AWS).
Tracking ServiceNow ITSM automation opportunities
In a prepared statement on the deal, Geeman Yip, BitTitan’s CEO said:
“Perspectium pioneered synchronization as a service and is a remarkable company with talented employees, dedicated customers and a commitment to deliver best-in-class package integration products. This acquisition is an important step towards realizing our vision of acting as a global IT gateway, enabling the next generation of IT operations management and offering the full continuum of market-leading IT solutions. We couldn’t be more excited to partner with such an amazing company and look forward to serving a wider range of IT professionals around the world. “
David Loo, CEO of Perspectium added:
“By joining BitTitan, our company will immediately expand its global presence and enable the continued innovation and growth of our data and process synchronization technologies. It’s a natural fit. Our customer base is complementary and enables mutual customers to benefit from an expanded suite of SaaS-based products that solve today’s IT problems through technology and automation. We share a customer-first philosophy and look forward to the opportunity ahead. “
The deal is expected to close within 30 days. At this point, Loo will move to the Chief Product Officer at BitTitan.