Device42 is an IT asset management company that provides comprehensive, continuously up-to-date views of assets across an organization's entire IT infrastructure - from mainframe to cloud. Freshworks acquired all outstanding equity of D42 Parent, Inc. through its wholly-owned subsidiary Doppler Merger Sub, Inc. The combination lets Freshworks offer a more comprehensive IT solution, pairing Device42's asset discovery and application dependency mapping with Freshworks' Freshservice ITSM platform.
- 01 Device42's asset discovery and application dependency mapping fill a capability gap in Freshworks' Freshservice ITSM suite
- 02 supporting Freshworks' move upmarket into mid-market and enterprise accounts where it competes with ServiceNow
This move reinforces our position in the ITSM market and shows our commitment to delivering value to IT teams worldwide.
This acquisition represents a significant step forward in delivering more comprehensive IT solutions that empowers organizations to optimize IT operations.
Freshworks CEO, earnings call: "We did do the Device42 acquisition. Didn't have a huge revenue installed base, and we actually were pretty open that we expect that installed base to have disruption to it because it was mainly through a partner competitor, and so we expect a lot of that to go away. The thesis of that buy was on cross-selling into our existing Freshservice installed base, but also higher win rates, specifically as we're moving up enterprise and we're competing more and more with ServiceNow, and so that one is playing out."