Vendor trio deck the halls with completion of billion-dollar acquisitions

Vertiv, Veeam and ServiceNow announce their multi-billion-dollar deals have made it over the line

Christmas has come early for a trinity of vendors who have marked the completion of their respective M&A moves.

Vertiv, Veeam and ServiceNow have all recently announced their billion-dollar acquisitions are neatly wrapped up in a bow.

Vertiv first announced its $1bn takeover of Texas-HQ Purge Rite in November to expand its liquid cooling services portfolio.

"We are excited to officially welcome PurgeRite to Vertiv, expanding to deepen our fluid management services capabilities," said Gio Albertazzi, CEO at Vertiv.

"PurgeRite's specialised expertise in fluid management services complements our existing portfolio and enhances our ability to provide end-to-end product and service support for customers' high-density computing and AI applications where efficient thermal management is critical to performance and reliability."

The integration of PurgeRite's capabilities with Vertiv's existing thermal management portfolio is expected to offer significant customer benefits, including enhanced system performance through improved heat transfer and equipment efficiency, reduced risk of downtime through operational excellence, and expanded service scale supporting global operations with consistent quality.

Meanwhile, Veeam in October stated it had “entered a new era for data” with its buyout of Securiti AI for $1.72bn.

The completion of this deal sees Veeam welcome 600 new AI and security experts to the fold, expanding its global expertise in AI security, DSPM, privacy engineering, and compliance.

“We’re excited to welcome the Securiti AI team. Together, we now deliver the only platform that unifies data resilience, security, privacy, governance, and AI trust – giving customers complete control over their data and the confidence to accelerate into the era of intelligent systems,” said Anand Eswaran, CEO at Veeam.

Finally, ServiceNow’s $2.85bn acquisition of Moveworks has crossed the finish line, advancing its vision to “put AI to work for people”.

ServiceNow first announced it was moving in on the AI assistant platform back in March to combine its agentic AI and automation strengths with Moveworks’ front‑end AI assistant and enterprise search technology to redefine how employees engage with work, drive faster outcomes, scale AI adoption, and create AI experiences people love to use.

“Moveworks accelerates ServiceNow’s vision to put AI to work for people across every corner of every business,” said Amit Zavery, president, chief operating officer, and chief product officer at ServiceNow.

“With two decades of workflow intelligence built into a single architecture, we’re powering the agentic AI operating system for the enterprise. Moveworks’ AI Assistant plus ServiceNow’s agentic platform will create an AI-native front door that turns conversations into completed work, allowing customers to resolve issues autonomously, trigger intelligent workflows, and get results – securely, responsibly, and at scale.”