Montreal-based Element AI to be bought by U.S. company ServiceNow
Posted November 30, 2020 6:14 am.
Last Updated November 30, 2020 6:18 am.
MONTREAL — Artificial intelligence company Element AI has signed a deal to be bought by U.S. company ServiceNow.
Financial terms of the agreement were not immediately available.
Element AI was founded in Montreal in 2016 and has been a pioneer in artificial intelligence.
With the acquisition, ServiceNow says it will create an AI innovation hub in Canada to accelerate customer‑focused AI innovation.
Element AI co‑founder and lead Fellow Yoshua Bengio will serve as a technical adviser for ServiceNow.
The company expects to complete the acquisition early next year.
This report by The Canadian Press was first published Nov. 30, 2020.
The Canadian Press
