Freshworks acquires Device42 for $230M, appoints Dennis Woodside new CEO

Freshworks, a SaaS company, is acquiring Device42 for $230 million and appointing Dennis Woodside as the new CEO, following the step down of founder Girish Mathrubootham. Device42 specializes in IT infrastructure management and recently added carbon emissions tracking to its services.

This acquisition, the first since Freshworks went public in 2021, aims to enhance its Freshservice offerings with Device42's enterprise-grade IT asset management capabilities. The deal is expected to close in Q2, integrating Device42’s 800 global customers with Freshworks' operations.