Freshworks Inc. has signed an agreement to acquire Torii, a leader in SaaS and AI spend management, to extend its Freshservice platform. This acquisition aims to provide IT teams with comprehensive visibility and control over software and AI usage, costs, and licenses across organizations, addressing challenges in managing AI consumption and software spend. Torii's technology tracks AI usage in detail, enabling better cost forecasting and governance, which is increasingly important as AI becomes integral to business operations. The deal is expected to close in Freshworks' fourth fiscal quarter of 2026, enhancing Freshworks' ability to help companies manage technology spend and security risks more effectively.
Freshworks Inc holds a market cap of $3.63 billion and an enterprise value of $3.00 billion as of October 12, 2026, 19:02 WIB on Pluang. The stock price stands at USD 13.92 with no change in the last day, supported by a trading volume of 4,297,527 shares. This stable trading activity coincides with Freshworks' strategic move to acquire Torii, aiming to enhance its Freshservice platform with AI and software spend governance capabilities.
