Freshworks signed an agreement to acquire Torii and extend its Freshservice platform into software and artificial-intelligence spend management. Torii tracks applications, licences and usage across businesses. The proposed combination would place consumption-based AI costs alongside information technology service management. Freshworks did not disclose a price and expects completion in the final quarter, subject to customary conditions.
Freshworks, a developer of enterprise service software, signed an agreement to acquire software management platform Torii on 12 October. It intends to bring Torii’s application and spending controls into Freshservice, its information technology service management product. Freshworks did not disclose the purchase price. The company expects completion in the final quarter, subject to customary conditions.[1], [2]
Founded in 2017, Torii tracks cloud software applications, licences, users and consumption across businesses. Its scope also includes application owners, access rights and AI projects. Media group Hearst, shopping platform Groupon and industrial group Koch are among its customers. Freshworks wants to put this software inventory and usage information alongside the services already managed through Freshservice.[1]
The integration plan addresses AI services whose charges depend on consumption. Torii tracks that usage at token level, where tokens are the units processed by AI models. Freshworks plans to assign usage to the people and teams responsible, allocate expenses to business units and set consumption limits and alerts. These are the company’s planned functions, without an independently measured savings result.[1]
Freshworks chief executive Dennis Woodside linked the agreement to businesses’ need for control over technology spending. Torii chief executive Uri Haramati described the shared work of information technology, finance and security teams as a focus of the combination. The companies have announced an agreement rather than completion of the transaction; Torii’s revenue, profit and valuation multiple remain undisclosed.[1]
