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ServiceNow completes US$230 million acquisition of Element AI

On January 8, 2021, California-based software company ServiceNow completed the acquisition of Element AI for approximately US$230 million. Under the terms of the deal, ServiceNow acquired all issued and outstanding equity interests of Element AI, which was founded in 2016 by CEO Jean-Francois Gagné and the "godfather" of machine learning Yoshua Bengio.

BLG represented McKinsey & Company, as one of Element AI's strategic shareholders, with a team led by Patrice Martin that included Patricia Galella, Manoj Pundit, Krstina Skocic and Francis Lussier.