Enterprise IT Cloud provider ServiceNow has signed an agreement to buy Neebula Systems for about $100 million in an all-cash transaction that is expected to close this month.

Neebula's flagship product, ServiceWatch, automates the discovery, mapping, and monitoring of IT-enabled enterprise services.

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This will become an integral part of the ServiceNow IT Operations Management portfolio.

ServiceNow chief executive, Frank Slootman, said ServiceWatch would become a centerpiece of the company's IT Operations Management strategy.

"It is a fundamental transformation from decades of component-centric management to one that puts the service portfolio front and center," he said.

"It provides further validation that the future of systems management will be shaped through a business service lens, which can only be achieved through a single, integrated service model and workflow."

Neebula co-founder and chief executive, Yuval Cohen, said his company had a vision to transform the IT operations management market by automating the creation and maintenance of service models.

"The combination of ServiceWatch's powerful capabilities with ServiceNow's ITOM solutions and market position, will allow us to better help enterprises realise the benefits of true service management."

The addition of ServiceWatch will augment the capabilities of other ServiceNow IT Operations Management products such as Event Management, Orchestration and Discovery.

More details about the acquisition will be shared in conjunction with ServiceNow's second quarter financial results announcement scheduled for July 30, 2014.