ServiceNow Acquires Moveworks for $2.85 Billion to Boost AI Capabilities

In a significant move to expand its artificial intelligence (AI) portfolio, ServiceNow has announced its acquisition of Moveworks, a leading provider of enterprise-focused automation and AI tools. The deal, valued at $2.85 billion, is expected to close in the second half of 2025.

Enhancing AI-Powered Business Transformation

The acquisition is seen as a strategic move by ServiceNow to strengthen its position in the AI market. Moveworks’ AI-first experience and elegant technology will complement ServiceNow’s powerful AI-driven workflow automation, enabling the company to deliver game-changing outcomes for employees and customers. According to ServiceNow president and COO Amit Zavery, the acquisition will “supercharge enterprise-wide AI adoption” and drive business transformation.

Integrated Product Offerings

The acquisition makes sense for ServiceNow, given the existing integration between the two companies’ product offerings. Moveworks’ AI assistant and enterprise search technology will be combined with ServiceNow’s agentic AI and automation strengths, creating a powerful platform for enterprise-wide AI adoption.

Moveworks’ Founding and Growth

Moveworks was founded in 2016 by a team of experienced entrepreneurs, including Bhavin Shah, Vaibhav Nivargi, Varun Singh, and Jiang Chen. The company came out of stealth in 2019 with an application to automate high-level IT support and has since expanded its product portfolio to address various lines of business.

ServiceNow’s AI Strategy

The acquisition of Moveworks solidifies ServiceNow’s strategy to embrace emerging AI technologies. The company has been investing heavily in AI research and development, and its AI solutions are reportedly the fastest-growing in its history. With the acquisition of Moveworks, ServiceNow is well-positioned to deliver innovative AI-powered solutions to its customers.