ServiceNow has announced a definitive agreement to acquire Moveworks for $2.85 billion, marking a significant step in expanding its agentic AI platform and reinforcing its leadership in AI-powered automation. The deal, which is expected to close in the second half of 2025 pending regulatory approvals, will integrate Moveworks’ AI-driven assistant and enterprise AI adoption tools with ServiceNow’s automation solutions. This acquisition highlights ServiceNow’s commitment to revolutionizing how employees interact with AI across various business functions, including CRM, IT, HR, and finance.
With thousands of AI agents already deployed, ServiceNow intends to leverage Moveworks’ front-end AI assistant and enterprise search capabilities to enhance employee productivity and streamline workflows. By integrating these technologies, the company aims to set a new industry standard for AI-driven workplace automation.
What Does This Acquisition Mean for AI-Driven Enterprise Workflows?
By combining its agentic AI platform with Moveworks’ intuitive AI assistant, ServiceNow seeks to redefine the way enterprises use artificial intelligence in daily operations. Moveworks’ AI-driven enterprise search solutions will enable employees to find relevant information more efficiently, automate routine tasks, and improve overall workplace productivity. The acquisition is expected to accelerate enterprise AI adoption, providing businesses with seamless AI-powered tools that can be easily integrated across multiple departments.
Moveworks’ technology is already widely used by Fortune 500 and Global 2000 companies, including Siemens, Toyota, Unilever, Instacart, and Palo Alto Networks. Many of these organizations rely on Moveworks’ AI assistant to streamline customer service, automate internal processes, and enhance the overall employee experience. ServiceNow’s decision to incorporate these capabilities into its platform underscores its commitment to AI-powered automation and the future of intelligent enterprise solutions.
A senior ServiceNow executive stated that the acquisition represents a major advancement in AI-driven business transformation. The integration of Moveworks’ front-end AI solutions with ServiceNow’s backend automation capabilities will create a more intuitive and productive enterprise AI experience.
How Will Moveworks’ AI Assistant Improve Employee Productivity?
Moveworks’ AI assistant has been designed to enhance efficiency across various departments, including sales, customer service, finance, and HR. Its ability to handle routine tasks and provide instant access to critical information enables employees to focus on higher-value work. The assistant’s AI-powered automation capabilities help sales teams track leads, manage contract renewals, and retrieve real-time customer insights. In customer service, the assistant streamlines issue resolution by offering quick access to account details, order history, and support tickets.
By integrating Moveworks’ AI solutions with ServiceNow’s agentic AI platform, businesses will be able to automate complex workflows more effectively. Employees will benefit from AI-powered self-service options, allowing them to resolve issues without human intervention. This enhanced automation is expected to drive significant efficiency gains, reduce operational costs, and improve overall employee satisfaction.
Moveworks’ CEO noted that joining ServiceNow presents an opportunity to accelerate innovation and enhance the AI-driven user experience for employees and customer service teams. The combination of ServiceNow’s workflow automation expertise with Moveworks’ AI-powered search and assistance tools will create a more dynamic and responsive workplace environment.
What Is the Financial and Strategic Rationale Behind the Deal?
ServiceNow has been aggressively expanding its AI capabilities, with its agentic AI platform emerging as the company’s fastest-growing product launch. As of December 31, 2024, the company had nearly 1,000 AI customers and had surpassed $200 million in annual contract value for its Pro Plus AI solution. The acquisition of Moveworks aligns with ServiceNow’s broader strategy of integrating AI-driven solutions across key business functions.
By enhancing its offerings in enterprise AI adoption, ServiceNow is positioning itself as a dominant player in the AI-driven digital transformation market. The company aims to leverage Moveworks’ expertise in front-end AI applications to create a more cohesive and scalable AI ecosystem. The acquisition is also expected to strengthen ServiceNow’s existing partnerships, as the two companies already share over 250 mutual customers.
The financial structure of the deal includes a combination of cash and stock payments, subject to customary regulatory approvals and closing conditions. ServiceNow’s leadership believes that this investment will drive long-term value by accelerating the adoption of AI-driven enterprise solutions.
How Will ServiceNow and Moveworks Shape the Future of AI in Business?
The integration of Moveworks’ AI assistant with ServiceNow’s AI-powered automation platform represents a major leap forward in workplace technology. The combined solutions will provide businesses with a unified AI-powered system capable of managing workflows across multiple departments, from HR and finance to IT and customer service.
One of the key areas of focus will be the deployment of AI agents that can work in harmony across various enterprise functions. As AI adoption continues to grow, ServiceNow aims to enhance its platform’s capabilities by enabling businesses to connect, analyze, and manage AI-driven workflows with greater efficiency.
ServiceNow’s acquisition of Moveworks signals a broader industry shift toward AI-driven business transformation. By focusing on intelligent automation, the company is setting the stage for the next evolution of enterprise AI. As organizations increasingly rely on AI to improve efficiency and decision-making, the integration of Moveworks’ AI capabilities will further cement ServiceNow’s position as a leader in the digital transformation space.
Transaction Details
ServiceNow will acquire Moveworks for $2.85 billion in a mix of cash and stock. The transaction is subject to regulatory approvals and is expected to close in the latter half of 2025.
J.P. Morgan Securities LLC served as the lead financial advisor for ServiceNow, with additional advisory support from Tidal Partners LLC.
What Does This Mean for the AI Industry?
ServiceNow’s latest move is a clear indication of the growing importance of AI in enterprise solutions. As businesses continue to embrace enterprise AI adoption, the demand for intelligent automation tools is expected to rise. This acquisition not only strengthens ServiceNow’s AI capabilities but also positions it as a major player in the AI-driven business transformation landscape.
By leveraging Moveworks’ AI assistant and enterprise search technology, ServiceNow is set to offer businesses a more efficient and scalable AI-powered solution. The acquisition underscores the company’s long-term commitment to driving innovation in workplace automation and enhancing the overall employee experience.
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