software
AI deal: ServiceNow’s acquisition of G2K closed
“ServiceNow will expand the Berlin office as a global headquarters for the retail segment and create new jobs here”: Karsten Neugebauer. photo
© G2K/G2K/obs/dpa
A big deal awakens new hope in the Berlin start-up scene, which has suffered from the corona pandemic.
With the approval of the antitrust authorities, the US group ServiceNow can completely take over the Berlin AI start-up G2K. This was shared by G2K shareholders Christ & Company Berlin with.
All parties involved agreed not to disclose the purchase price. According to industry experts, the purchase announced in May for a “high three-digit million amount” is said to have taken place. In addition to SericeNow, Microsoft and Google are said to have been interested in the Berlin start-up. The takeover was classified as the “biggest AI deal in Germany” by the German Startup Association.
The company name G2K is an acronym for “Good to Know”. The aim of the AI software from G2K is to analyze huge amounts of data without any time delay and to create concrete recommendations for action. In retail, for example, it should be prevented in real time that shelves are unintentionally emptied by customers because enough supplies were not procured in time.
“A huge opportunity for Berlin”
G2K AI solutions are also used to enable efficient and resource-saving control of traffic, lighting, waste disposal and irrigation. This is practiced in the Egyptian city of Madinaty, for example. However, G2K’s AI services could also help to optimize visitor flows in museums and stadiums. Malfunctions could be detected early and often in advance or even avoided.
Company co-founder and CEO of the G2K Group, Karsten Neugebauer, countered fears that the Berlin location would be reduced after the takeover by ServiceNow. After the sale, the capital will also benefit. “The American buyer ServiceNow will expand the Berlin office as a global headquarters for the retail segment and create new jobs here. This is a huge opportunity for Berlin,” said Neugebauer, who founded the company ten years ago with his partner Omar El Gohary.