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Freshworks Completes Acquisition of Device42

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Freshworks Completes Acquisition of Device42

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Enhances IT Asset Management Capabilities Designed to Provide Customers with a Single, Integrated Platform

New Capabilities Help Customers Reduce Risk, Solve Incidents Faster

Mediaportalanda, SAN MATEO, Calif., June 06, 2024 (GLOBE NEWSWIRE) — Freshworks Inc. (NASDAQ: FRSH) today announced the completion of its acquisition of Device42, a company that provides comprehensive, continuously up-to-date views of assets across an organization’s entire IT infrastructure. The acquisition marks a significant milestone for Freshworks, reinforcing its commitment to empowering IT teams with robust IT Asset Management (ITAM) solutions.

In today’s ever-changing digital world, IT teams play a major role in delivering business value with speed and responsiveness being critical for success. Upon the integration of Freshworks and Device42 solutions, customers will be able to benefit from a unified platform that delivers enhanced ITSM (IT Service Management) and ITAM (IT Asset Management Software) capabilities including advanced asset discovery and application dependency mapping, enabling them to anticipate risks better and resolve incidents faster.

“This move reinforces our position in the ITSM market and shows our commitment to delivering value to IT teams worldwide,” said Dennis Woodside, CEO of Freshworks. “By combining our offerings with Device42’s, we’re even better positioned to meet the needs of both Freshworks and Device42 customers and partners to drive innovation in IT asset management.”

Raj Jalan, CEO of Device42, added, “Historically, we’ve partnered with Freshworks to provide industry-leading IT Infrastructure discovery and mapping, a win-win for customers and partners. This acquisition represents a significant step forward in delivering more comprehensive IT solutions that empowers organizations to optimize IT operations and drive business success. We are also excited about Freshworks’ AI focus as that aligns with our strategy to deliver added value faster to our customers.”

Once Freshworks and Device42 are combined in a single integrated platform, IT and operations teams will be able to gain access to an up-to-date, high-integrity source of truth for IT asset data. This partnership will enable users to predict issues, automate remediation for critical IT services, and better support customers and employees, optimize delivery costs, and mitigate risks to critical services.

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