Canada:
ServiceNow Completes US$230 Million Acquisition Of Element AI
02 March 2021
Borden Ladner Gervais LLP
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On January 8, 2021, California-based software company ServiceNow
completed the acquisition of Element AI for approximately US$230
million. Under the terms of the deal, ServiceNow acquired all
issued and outstanding equity interests of Element AI, which was
founded in 2016 by CEO Jean-Francois Gagné and the
"godfather" of machine learning Yoshua Bengio.
BLG represented McKinsey & Company, as one of Element
AI's strategic shareholders, with a team led by Patrice Martin that included Patricia Galella, Manoj Pundit, Krstina Skocic and Francis Lussier.
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