CoreX Announces Strategic Acquisition of ITS Partners ("ITS") to Bolster ServiceNow Expertise and Industry Solutions

ADDISON, Texas, Sept. 25, 2024 /PRNewswire/ -- CoreX, a leading-edge ServiceNow consultancy and a NewSpring Holdings platform company, announced today that it has entered into a definitive agreement to acquire ITS Partners ("ITS"), an Elite ServiceNow partner. This move is a critical next step in a multi-year expansion journey and strengthens CoreX's position in the ServiceNow ecosystem, adding industry expertise and high-impact functional offerings that are powered by AI.

With over 25 years of experience driving IT transformation for its customers, ITS has built a strong reputation in the ServiceNow community, maintaining a presence in both the North American and European ("EMEA") markets. They have a proven track record in delivering successful solutions across Operational Technology ("OT"), IT Asset Management ("ITAM"), IT Operations Management ("ITOM"), Security Operations ("SecOps"), Customer Service Management ("CSM"), Integrations, and Managed Services. Their deep understanding of key industries such as manufacturing, technology, retail, and utilities enables them to offer tailored solutions that meet specific industry challenges – driven by their culture of innovation and delivery excellence.

"Today's announcement represents a significant leap forward in our mission to become the leading boutique ServiceNow consultancy across the globe," said Rick Wright, CoreX CEO and former Global Leader of ServiceNow Customer Outcomes. "ITS's deep platform expertise, industry knowledge, and global reputation for excellence in OT and ITAM perfectly complement our strengths. Together, we're poised to deliver unparalleled value to our clients."

This announcement comes as the ServiceNow ecosystem is experiencing significant M&A activity and pivoting towards deeper functional prowess, industry verticalization, and AI-enabled business transformation capabilities among the partner network. Erica Volini, Senior Vice President of Global Partnerships at ServiceNow, shared, "We are at a pivotal juncture in ServiceNow's evolution, ensuring our customers make the most of their transformation journeys. Our partner program is mission-critical to their success. Bringing together the strengths of CoreX and ITS empowers our customers with the scale, deep functional knowledge, and specialization that our customers need."

The new combined team will be better positioned to address complex business challenges. They will leverage ITS's proven solutions with CoreX's executive leadership and extensive resources to reimagine AI-enabled business transformation for the ServiceNow market. "As ServiceNow cements itself as the go-to AI platform for business transformation, it's critical that we have partners that can guide our customers along their innovation journey," Tom Hannigan, President, Americas, ServiceNow, said. "The innovation, industry focus, and deep ServiceNow functional experience that CoreX and ITS deliver together position it as a valuable resource for any ServiceNow customer."

"Joining forces with CoreX opens up exciting new possibilities for our team and clients," Chris Haughey, CEO of ITS, said. "What gets us truly excited about our next chapter is our shared commitment to driving real business value and fostering innovation for our clients. We're also excited to leverage the CoreX leadership's experience building and scaling the best-of-the-best ServiceNow consulting teams to help accelerate our growth, allowing us to bring our ITS capabilities to an even broader marketplace."

ITS is CoreX's first add-on acquisition through its partnership with NewSpring Holdings. "When we partnered with the CoreX management team this May, we shared their vision of building a differentiated ServiceNow consultancy focused on core business operations through investments in organic growth, infrastructure, and strategic M&A," said Daniel Salvato, Principal at NewSpring Holdings. "With ITS's edge in some of ServiceNow's fastest-growing solutions like Operational Technology, the acquisition accelerates CoreX's path to becoming a market leader in this ecosystem."

About CoreX

CoreX is the first and only consultancy uniquely focused on connecting and streamlining ServiceNow Customers' core Business Operations, Finance, Procurement, Supply Chain and ERP transformation processes.

Built on decades of Industry and ServiceNow know-how, CoreX is on a mission to fix siloed, manual processes, empowering our customers and bringing the ServiceNow-connected, workflow-driven promise to the Finance, Procurement and Supply Chain functions.

With proven success connecting the critical OCM and strategy elements needed to succeed in transforming core business operations – and the ServiceNow technology chops to ensure that vision is rolled out in the right way. Learn more at www.corexcorp.com.

About ITS

ITS (Innovation Partners is an Elite Strategic ServiceNow Partner, renowned for its expertise in Operational Technology (OT), IT Asset Management (ITAM), and other key ServiceNow practice areas. Based in Michigan, ITS has built a strong reputation for delivering tailored solutions to manufacturing and utilities industries, with a proven track record of driving real business results for its customers.

About NewSpring Holdings
NewSpring Holdings, NewSpring's majority investment strategy focused on control buyouts and sector-specific platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. Having completed over 250 investments, the Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

SOURCE CoreX