{"success":true,"data":{"pressRelease":{"id":"166292","rtpr_id":"nGNE78f2bY-20261012","ticker":"FRSH","exchange":"NASDAQ","all_tickers":["FRSH"],"title":"Freshworks to Extend Freshservice into AI and Software Spend Governance with Agreement to Acquire Torii","author":"Globe Newswire","published_at":"2026-10-12T12:00:00.323Z","article_body":"One context across applications, licenses, identities, and AI spend — so AI\ncan understand and act on it, not just describe it\n\nSAN MATEO, Calif., Oct. 12, 2026 (GLOBE NEWSWIRE) -- Freshworks Inc.\n(https://www.globenewswire.com/Tracker?data=ZLqX1c07bZSNJxUHNGBVrcOXrq_Iqm4HqYm_VtT8RK8pScA8_9lKpseD6LeljUE94z-rcMX4NbNBSwh2HY5411zOtXxIql7xDTNqncCqiOY=)\n(NASDAQ: FRSH) has signed a definitive agreement to acquire Torii\n(https://www.globenewswire.com/Tracker?data=JcORC7_WOmSNyAuKjl4LBpXaUPV9VdR1-PMwdKEOLyvHR5fG9A9WPeBk8BJN_SRzlw20bNmtNbDm_AhUU-l6zQ==),\nextending Freshservice into software management and AI spend governance.\n\nModern IT is increasingly asked to govern an estate it can only partially see.\nThe proliferation of SaaS and AI tools has left IT with partial visibility,\nand AI's consumption-based pricing has introduced a cost model most finance\nsystems were never built to track. Left unaddressed, that gap can lead to\nunnecessary software spend and increase the security and data risks associated\nwith unmanaged tools. Torii is designed to help close that gap and mitigate\nblind spots across your software and AI ecosystem.\n\nWe believe the combination of Freshservice and Torii can bring the full\npicture of a company's technology inventory, usage, and spend into one place:\nvisibility into every application, license, and identity running across the\norganization; clarity on what it costs and what it's worth; and faster access\nfor employees with fewer tickets for IT. Torii tracks AI consumption to the\ntoken, attributes it to the people and teams driving it, and forecasts where\nit's heading, so IT can charge it back, set limits, and catch a spike while\nit's still small.\n\nTorii pioneered this category and was recently named a Leader in the 2026\nGartner® Magic Quadrant™ for SaaS Management Platforms. Companies including\nHearst Corporation, Groupon, and Koch, Inc. already trust Torii to govern\ntheir software and AI spend.\n\n\"Modern IT teams are being asked to govern more of the business than ever,\nwith less visibility into what it costs,\" said Dennis Woodside, CEO and\nPresident of Freshworks. \"Freshservice already gives IT one place to see\neverything they run. With Torii, that same view now extends to software and AI\nspend — what's running, who's using it, and what it costs, so finance and IT\nstop reconciling spreadsheets and start making decisions together. As AI moves\nfrom experiment to infrastructure, Freshservice is how modern IT can govern it\nat scale.\"\n\n\"AI and the software behind it are changing how every team works, and most\nCIOs still can't see it, let alone control it,\" said Uri Haramati, CEO of\nTorii. \"We built Torii because IT, finance, and security were each working off\na different partial picture of the same problem. Freshservice already gives IT\none system of record for everything it runs. Extending that to software and AI\nmeans one less blind spot, not one more dashboard.\"\n\nThe acquisition is expected to close in Freshworks' fourth fiscal quarter of\n2026, subject to customary closing conditions.\n\nAbout Freshworks\nFreshworks is the AI-powered, unified service operations platform that is fast\nto deploy, intuitive to use, and enables every employee to be more productive.\nWe offer powerful configurability and scalability, without the operational\ndrag of legacy platforms. Organizations including Bridgestone, New Balance,\nS&P Global, and Sony Music trust Freshworks to deliver quality employee and\ncustomer service and manage efficient technology operations. For the latest\nupdates, visit freshworks.com\n(https://www.globenewswire.com/Tracker?data=97OyY_F9Sl9e-B4DL0HnZY-IjUAFdSEjxnYJmysRKE5mF-C4vnMsfoIlchU_iLms5HBs7uJx9y_3NV3tKgIBMg==)\nand follow Freshworks on LinkedIn\n(https://www.globenewswire.com/Tracker?data=abEvAz6ZoqmsF41Na833Pq54oitVbUyI1Sl6KQk7VP2AAZAa1pd4YE8k_w40cKhQgYLdkO4FfWM_a5yS44GtwUOR4qWFbUarcwKUSmcnMH6w95IXNRdFezewTJQ4c2AAGdTj76QiP5H1URTcz1uZ9A==),\nX\n(https://www.globenewswire.com/Tracker?data=i9KqBwKK7AyEyok7nMFcEZqbigGvYG4iWifm3ETviA7yPM479Hc0y7u469DgRTPltPgzsHUx5qM92Z37gtpb1A==),\nand Facebook\n(https://www.globenewswire.com/Tracker?data=GkxrfiUZ1fP3GrEBueC8jkAqBnyu_qudMWARsUXtWfNNtmA89fgyV5quLeK2WHlCGfZyX0XuueCFWn0245r7d8Bgkid8Ac2Hb11DAbcNgrQ=).\n\nAbout Torii\n\nFounded in 2017, Torii helps teams turn hidden SaaS and AI activity into\ngoverned, accountable operations. The platform offers complete visibility into\napplications, AI projects, spend, licenses, users, owners, and access across\nthe business, giving teams a single source of truth. By connecting that\nvisibility to automated workflows, Torii helps organizations reduce waste,\nautomate lifecycle tasks, support renewals, and keep compliance evidence\nready. To learn more, visit toriihq.com\n(https://www.globenewswire.com/Tracker?data=iXaYOZtmPaHVoUVILmvOs5bIcniJQDQRGkNj3stzuUdWzAqKGoQsGaoHXrCnzo4JGTDwpyRQQW_2gb1gMs_T_Q==).\n\nMedia Relations Contact:\nPR@freshworks.com","article_body_html":"","raw_payload":{"data":{"id":"nGNE78f2bY-20261012","title":"Freshworks to Extend Freshservice into AI and Software Spend Governance with Agreement to Acquire Torii","author":"Globe Newswire","ticker":"FRSH","created":"2026-10-12T12:00:00.323Z","tickers":["FRSH"],"exchange":"NASDAQ","article_body":"One context across applications, licenses, identities, and AI spend — so AI\ncan understand and act on it, not just describe it\n\nSAN MATEO, Calif., Oct. 12, 2026 (GLOBE NEWSWIRE) -- Freshworks Inc.\n(https://www.globenewswire.com/Tracker?data=ZLqX1c07bZSNJxUHNGBVrcOXrq_Iqm4HqYm_VtT8RK8pScA8_9lKpseD6LeljUE94z-rcMX4NbNBSwh2HY5411zOtXxIql7xDTNqncCqiOY=)\n(NASDAQ: FRSH) has signed a definitive agreement to acquire Torii\n(https://www.globenewswire.com/Tracker?data=JcORC7_WOmSNyAuKjl4LBpXaUPV9VdR1-PMwdKEOLyvHR5fG9A9WPeBk8BJN_SRzlw20bNmtNbDm_AhUU-l6zQ==),\nextending Freshservice into software management and AI spend governance.\n\nModern IT is increasingly asked to govern an estate it can only partially see.\nThe proliferation of SaaS and AI tools has left IT with partial visibility,\nand AI's consumption-based pricing has introduced a cost model most finance\nsystems were never built to track. Left unaddressed, that gap can lead to\nunnecessary software spend and increase the security and data risks associated\nwith unmanaged tools. Torii is designed to help close that gap and mitigate\nblind spots across your software and AI ecosystem.\n\nWe believe the combination of Freshservice and Torii can bring the full\npicture of a company's technology inventory, usage, and spend into one place:\nvisibility into every application, license, and identity running across the\norganization; clarity on what it costs and what it's worth; and faster access\nfor employees with fewer tickets for IT. Torii tracks AI consumption to the\ntoken, attributes it to the people and teams driving it, and forecasts where\nit's heading, so IT can charge it back, set limits, and catch a spike while\nit's still small.\n\nTorii pioneered this category and was recently named a Leader in the 2026\nGartner® Magic Quadrant™ for SaaS Management Platforms. Companies including\nHearst Corporation, Groupon, and Koch, Inc. already trust Torii to govern\ntheir software and AI spend.\n\n\"Modern IT teams are being asked to govern more of the business than ever,\nwith less visibility into what it costs,\" said Dennis Woodside, CEO and\nPresident of Freshworks. \"Freshservice already gives IT one place to see\neverything they run. With Torii, that same view now extends to software and AI\nspend — what's running, who's using it, and what it costs, so finance and IT\nstop reconciling spreadsheets and start making decisions together. As AI moves\nfrom experiment to infrastructure, Freshservice is how modern IT can govern it\nat scale.\"\n\n\"AI and the software behind it are changing how every team works, and most\nCIOs still can't see it, let alone control it,\" said Uri Haramati, CEO of\nTorii. \"We built Torii because IT, finance, and security were each working off\na different partial picture of the same problem. Freshservice already gives IT\none system of record for everything it runs. Extending that to software and AI\nmeans one less blind spot, not one more dashboard.\"\n\nThe acquisition is expected to close in Freshworks' fourth fiscal quarter of\n2026, subject to customary closing conditions.\n\nAbout Freshworks\nFreshworks is the AI-powered, unified service operations platform that is fast\nto deploy, intuitive to use, and enables every employee to be more productive.\nWe offer powerful configurability and scalability, without the operational\ndrag of legacy platforms. Organizations including Bridgestone, New Balance,\nS&P Global, and Sony Music trust Freshworks to deliver quality employee and\ncustomer service and manage efficient technology operations. For the latest\nupdates, visit freshworks.com\n(https://www.globenewswire.com/Tracker?data=97OyY_F9Sl9e-B4DL0HnZY-IjUAFdSEjxnYJmysRKE5mF-C4vnMsfoIlchU_iLms5HBs7uJx9y_3NV3tKgIBMg==)\nand follow Freshworks on LinkedIn\n(https://www.globenewswire.com/Tracker?data=abEvAz6ZoqmsF41Na833Pq54oitVbUyI1Sl6KQk7VP2AAZAa1pd4YE8k_w40cKhQgYLdkO4FfWM_a5yS44GtwUOR4qWFbUarcwKUSmcnMH6w95IXNRdFezewTJQ4c2AAGdTj76QiP5H1URTcz1uZ9A==),\nX\n(https://www.globenewswire.com/Tracker?data=i9KqBwKK7AyEyok7nMFcEZqbigGvYG4iWifm3ETviA7yPM479Hc0y7u469DgRTPltPgzsHUx5qM92Z37gtpb1A==),\nand Facebook\n(https://www.globenewswire.com/Tracker?data=GkxrfiUZ1fP3GrEBueC8jkAqBnyu_qudMWARsUXtWfNNtmA89fgyV5quLeK2WHlCGfZyX0XuueCFWn0245r7d8Bgkid8Ac2Hb11DAbcNgrQ=).\n\nAbout Torii\n\nFounded in 2017, Torii helps teams turn hidden SaaS and AI activity into\ngoverned, accountable operations. The platform offers complete visibility into\napplications, AI projects, spend, licenses, users, owners, and access across\nthe business, giving teams a single source of truth. By connecting that\nvisibility to automated workflows, Torii helps organizations reduce waste,\nautomate lifecycle tasks, support renewals, and keep compliance evidence\nready. To learn more, visit toriihq.com\n(https://www.globenewswire.com/Tracker?data=iXaYOZtmPaHVoUVILmvOs5bIcniJQDQRGkNj3stzuUdWzAqKGoQsGaoHXrCnzo4JGTDwpyRQQW_2gb1gMs_T_Q==).\n\nMedia Relations Contact:\nPR@freshworks.com"},"type":"article","timestamp":"2026-10-12T12:00:00.484780143Z","server_sent_at_ms":1791806400484},"received_at":"2026-10-12T12:00:00.541Z","source_url":null},"analysis":{"id":"154644","press_release_id":"166292","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":["deal terms and purchase price not disclosed"],"eventType":"m_and_a","narrative":"Freshworks signed a definitive agreement to acquire Torii, a SaaS management platform named a Leader in the 2026 Gartner Magic Quadrant for SaaS Management Platforms.\n\nThe deal extends Freshservice into software and AI spend governance, with Torii tracking AI consumption to the token and attributing it to teams for chargeback and cost control.\n\nThe acquisition is expected to close in Freshworks' fourth fiscal quarter of 2026, subject to customary closing conditions; no financial terms were disclosed.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Freshworks tuck-in adds AI spend governance to Freshservice -- watch for undisclosed deal size and integration execution."},"keyFigures":{},"quotedText":"As AI moves from experiment to infrastructure, Freshservice is how modern IT can govern it at scale.","namedEntities":{"people":[{"name":"Dennis Woodside","role":"CEO and President of Freshworks"},{"name":"Uri Haramati","role":"CEO of Torii"}],"products":["Freshservice","Torii"],"companies":[{"name":"Freshworks Inc.","ticker":"FRSH","relationship":"acquirer"},{"name":"Torii","relationship":"target"},{"name":"Hearst Corporation","relationship":"Torii customer"},{"name":"Groupon","relationship":"Torii customer"},{"name":"Koch, Inc.","relationship":"Torii customer"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Strategic tuck-in acquisition extending Freshservice into SaaS/AI spend governance; no deal value or financial terms disclosed and closing is routine pending. Positive strategically but not immediately market-moving."},"tickerRelevance":{"others":[],"primary":"FRSH"},"globalImportance":30,"audienceRelevance":35,"eventTypeSecondary":["product_launch"],"importanceComponents":{"tickerTier":"mid-cap software","eventGravity":"tuck-in M&A without terms","strategicFit":"expands TAM into SaaS/AI spend governance"}},"event_type":"m_and_a","event_type_secondary":["product_launch"],"sentiment":"bullish","material_impact_score":2,"narrative":"Freshworks signed a definitive agreement to acquire Torii, a SaaS management platform named a Leader in the 2026 Gartner Magic Quadrant for SaaS Management Platforms.\n\nThe deal extends Freshservice into software and AI spend governance, with Torii tracking AI consumption to the token and attributing it to teams for chargeback and cost control.\n\nThe acquisition is expected to close in Freshworks' fourth fiscal quarter of 2026, subject to customary closing conditions; no financial terms were disclosed.","key_figures":{},"named_entities":{"people":[{"name":"Dennis Woodside","role":"CEO and President of Freshworks"},{"name":"Uri Haramati","role":"CEO of Torii"}],"products":["Freshservice","Torii"],"companies":[{"name":"Freshworks Inc.","ticker":"FRSH","relationship":"acquirer"},{"name":"Torii","relationship":"target"},{"name":"Hearst Corporation","relationship":"Torii customer"},{"name":"Groupon","relationship":"Torii customer"},{"name":"Koch, Inc.","relationship":"Torii customer"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-12T12:00:05.520Z","global_importance":30,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap software","eventGravity":"tuck-in M&A without terms","strategicFit":"expands TAM into SaaS/AI spend governance"}},"durationMs":4947,"modelName":"glm-5.3-flashx"}}