Major AI deal closed as US ServiceNow buys Berlin-based G2K start-up

Major AI deal closed as US ServiceNow buys Berlin-based G2K start-up

German artificial intelligence start-up G2K has been taken over by US software company ServiceNow, following the approval of the antitrust authorities, G2K shareholder Christ&Company announced on Wednesday. All parties involved agreed not to disclose the purchase price. According to industry experts, the purchase, announced in May, is said to have gone through for a “high three-digit million amount.”

This image was created with the assistance of DALL·E 2

In addition to ServiceNow, Microsoft and Google are said to have been interested in the Berlin start-up. The takeover was classified as the “largest AI deal in Germany” by the German Startup Association.

G2K, an abbreviation for ‘Good to Know’, uses AI software to analyse huge amounts of data as quickly as possible and create concrete recommendations for action.

AI solutions from G2K are also used to enable efficient and resource-saving control of traffic, lighting, waste disposal and irrigation. This is happening in the Egyptian city of Madinaty, for example.

G2K’s technology could also help optimize visitor flows in museums and stadiums. Disruptions could be detected at an early stage or even avoided.

Company co-founder and chief executive of the G2K Group, Karsten Neugebauer, countered fears that company would scale back its Berlin location after the takeover.

The German capital would also benefit from the sale, he said.

“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 10 years ago with his partner Omar El Gohary.