ServiceNow Buys Small Stake in Banking Software Maker BusinessNext

ServiceNow invested $40 million in Indian banking software company BusinessNext, buying about 5% of the company at a $700 million valuation. BusinessNext gets access to ServiceNow's worldwide sales network; ServiceNow gets a foothold in banking software. Big tech firms increasingly buy small stakes instead of acquiring whole companies to avoid the cost and regulatory hassle of full takeovers.