Swarm64 sold to ServiceNow
Investinor company Swarm64 has been acquired by NYSE listed company ServiceNow.
Investinor has backed Swarm64 – a provider of hardware and software solutions that scale databases in size and speed beyond their current limitations – since 2015.
«At Investinor, we turn selected promising Norwegian companies into world-leading businesses. A central part of our mandate is also to facilitate foreign investments in our portfolio companies. That is why we are happy to announce that Investinor, together with the rest of the shareholders, have agreed to sell Swarm64 to ServiceNow, a global leader in its field», says Terje Eidesmo, CEO at Investinor.
Investinor is the largest owner with 18 percent of the shares, followed by leading venture and industry investors Target Partners, Alliance Venture and Intel.
«As early backers of the database experts in Swarm64, we are pleased with this transaction. ServiceNow will be a great new home for the company. Huge congratulations to Team Swarm64 and a big thank you to our investment partners», says Otto Frøseth, Investment Director at Investinor.
ServiceNow delivers digital workflows that create great experiences and unlock productivity. Based in Silicon Valley, US, ServiceNow has more than 15,000 employees and about $4.3 billion in annual subscription revenues.
«Querying more data sources faster is a game changer in our efforts to make the future of business more productive and efficient. We’re thrilled to bring on board an outstanding team of database experts to help us meet the ever-evolving expectations and needs of customers as we set our sights on becoming the defining enterprise company of the 21st century,» says Joe Davis, senior vice president of platform engineering at ServiceNow, in a statement.
Investinor is an evergreen investment company funded by the Norwegian government. The company invests in promising unlisted companies targeting international expansion, and executes active ownership through board positions. Investinor acquires minority stakes (less than 50%) in its portfolio companies, and always syndicates its investments with other investors. Investinor has NOK 8 billion under management, and aims to be a gateway to Norway for international partners. For more info visit www.investinor.no.
Swarm64 AS (swarm64.com) provides the Scalable Data Accelerator that enables relational databases to perform real-time analytics for high velocity and big data. Swarm64’s team is world-class in FPGA design and the development of real-time database software. The company was founded in 2013 and is backed by leading venture investors from the US, Norway and Germany. The founding team was supported by Humboldt Innovation of the Humboldt University Berlin. Swarm64 is a Norwegian company with operations in Berlin, Germany.