The company, 4me, whose software platform touches everything from agile development to managed service providers (MSPs), is looking to strengthen its position in the highly competitive IT service management (ITSM) space with the acquisition of StatusCast, which offers cloud-based incident-management products.
Bringing StatusCast into the fold will enable 4me to offer real-time service notifications and visual representations of the IT service catalog, which will integrate with 4me’s incident management service to provide faster mean team to resolution (MTTR) when services go out or are degraded.
In addition, 4me users like MSPs, network operations centers and support and service desk units can access StatusCast’s incident management tools to deliver more automated and complete capabilities to handle incidents and service level agreements (SLAs) for clients.
No financial details of the acquisition were released.
“The addition of StatusCast is an important step towards adding advanced functionality to the 4me platform for IT teams, operations teams, and service providers,” Phil Christianson, 4me’s chief product officer, wrote in a blog post. “StatusCast nicely complements 4me’s ITSM functionality – customers and partners want to know the status of the technologies, services and applications they depend on to deliver their customer experiences.”
Eric Warth, vice president of operations at StatusCast, said in a statement that the deal is “in line with our vision of transparently communicating with stakeholders relevant information efficiently so that teams can focus more on the incident than managing communications.”
“4me’s cutting-edge ITSM solution, with its emphasis on a comprehensive, service-centric, multi-tenant architecture, perfectly complements our mission to unify and automate status and incident communications,” Warth said.
Steady Buildup
4me was founded in 2010 and has since built out its Software-as-a-Service (SaaS) platform, which the Palo Alto, California-based company says combines ITSM with enterprise service management (ESM) and service integration and management (SIAM), which lets all of an organization’s internal departments – including IT, human resources and facilities – and external MSPs to more easily work with each other.
It also lets enterprises better control both the quality and cost of such services, with tools that track the cost at the per-service level and an IT financial management tool that gives business leaders a view of all the services they offer. All this can be seen in real time in an information dashboard.
4me says it has more than 3.6 million enterprise employees using its self-service offerings.
StatusCast, which was founded in 2013, offers solutions for enterprises, higher education institutions, MSPs and SaaS providers. Its customer list includes such companies as Cisco, McKesson, Sophos, BMC, naviHealth, and the University of California, San Diego.
Competitive ITSM Market
4me, which got a strategic growth investment in May 2023 led by PSG, an investor in software companies, targets its SaaS platform to enterprises and midsize companies. It competes in an ITSM market that MarketsandMarkets analysts expect will grow from $10.5 billion last year to $22.1 billion by 2028.
The market underwent a transition during the COVID-19 pandemic as organizations saw budgets tighten and prioritizations shift, including a greater focus on costs. Enterprises sought ITSM solutions offering greater efficiencies, cost optimizations and streamlined operations, the analysts wrote. In addition, cloud-based services are seeing greater adoption because of their scalability and flexibility combined with the reduced up-front infrastructure costs that come with on-premises solutions.
4me’s competitors include such companies as ServiceNow, SolarWinds, Symphony AI, and Atlassian’s Jira. The SaaS vendor plans to use StatusCast’s capabilities to grow its own. 4me’s Christianson wrote that the plan is to incorporate StatusCast’s solutions into its platform to grow the ability for customers and partners to get information about service availability, current incidents and scheduled downtime.
“We’ll connect public and private status views to the services and technologies that customers manage within 4me,” he wrote.
