ServiceNow buys 5% of BusinessNext, values Indian software firm at $700 million

July 22 : ServiceNow has acquired roughly 5 per cent of BusinessNext in a deal that values the software provider at $700 million, as the Indian company looks to expand its autonomous banking tools through a partnership with the U.S.-based software giant.BusinessNext said on Wednesday it raised $40 million in a Series C round from ServiceNow Ventures, a venture capital arm of the company.Here are some details:• BusinessNext CEO Nishant Singh told Reuters that the funding will primarily be allocated to strengthening the company's sales efforts, initially focusing on expanding distribution in Southeast Asia and Australia. • "Every company has to go to an IPO. Right now, we're not looking at the IPO part," he said, adding that BusinessNext's ambition "right now is to run in every bank in the w