ServiceNow Denies Decagon Acquisition Talk Following M&A Concerns

ServiceNow Inc. (NOW) has pushed back against reports claiming it was looking to acquire conversational AI startup Decagon. Company leadership clarified that ServiceNow has no plans or interest in purchasing the artificial intelligence developer, clearing up recent market rumors about potential deal talks.

The clarification comes as investors closely watch the software company's aggressive dealmaking strategy. Since 2025, ServiceNow has committed more than $11 billion toward acquisitions to bolster its AI, cybersecurity, and customer relationship capabilities. Recent transactions include buying cybersecurity firm Armis for $7.75 billion, enterprise search platform Moveworks for $2.85 billion, identity security provider Veza for $1.25 billion, and sales software vendor Logik.io for $506 million.

Wall Street analysts noted that investor skepticism around additional large deals likely contributed to recent pressure on the stock, though ServiceNow's core customer service management segment remains a key growth driver. ServiceNow shares closed Tuesday down 1.22% at $138.61 and remain down 9.5% for the year. Attention now turns to Oct. 28, when the company is scheduled to publish its third-quarter financial results, where sales are anticipated to grow 20% to $4.09 billion.