ServiceNow, an AI platform for business transformation, has agreed to acquire AI assistant and enterprise search technology company Moveworks in a deal valued at $2.85bn.
The deal is expected to augment ServiceNow’s agentic AI and automation capabilities by integrating Moveworks’ AI assistant and enterprise search technology.
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Established in 2016, Moveworks specialises in AI-powered assistants that address employee requests within organisations.
The integration of Moveworks’ front-end AI assistant with ServiceNow’s AI ServiceNow Platform is expected to drive enterprise adoption and innovation, particularly in areas such as customer relationship management.
ServiceNow president, chief operating officer, and chief product officer Amit Zavery said: “With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI‑powered business transformation.
“As agentic AI and enterprise‑grade search forever change how we work, ServiceNow moved early to empower employees through AI.
“Moveworks’ talented team and elegant AI‑first experience, combined with ServiceNow’s powerful AI‑driven workflow automation, will supercharge enterprise‑wide AI adoption and deliver game‑changing outcomes for employees and their customers.”
As part of the deal, Moveworks’ more than 500 employees will move to ServiceNow’s team.
ServiceNow expects that Moveworks’ front-end AI agent and enterprise search services will extend its reach to every requestor within an organisation.
The initial integration will focus on providing a unified search and self-service experience for employees across all workflows.
ServiceNow also expects the integration of Moveworks’ capabilities to expedite the delivery of AI-powered solutions and enhance customer interactions.
Moveworks co‑founder and CEO Bhavin Shah said: “Becoming part of ServiceNow presents an incredible opportunity to accelerate our innovation and deliver on our promise through their AI agent‑fueled platform to redefine the user experience for employees and customer service teams.”
Subject to regulatory approvals, the cash and stock deal is planned to be closed in the second half of 2025.
In February 2024, ServiceNow and chip manufacturer Nvidia expanded their partnership to provide telco-specific GenAI solutions to boost service experiences.
