ServiceNow is still making its biggest bet. The software giant announced Monday that it would acquire AI startup MoveWorks in cash and stock trading for $2.85 billion, celebrating its biggest acquisition in its history.
The move shows ServiceNow’s driving force to bolster its product lineup and attract more customers as AI adoption surges. Companies across the industry are looking for ways to invest in automating IT operations, increasing productivity and reducing manual tasks.
“With the acquisition of MoveWorks, ServiceNow is taking another huge leap into business transformation for Agent AI power,” Amit Zavery, president, chief operating officer and chief product officer of ServiceNow, said in a news release.
Zavery added: Combined with MoveWorks’ talented team and ServiceNow’s powerful AI-driven workflow automation, Elegant AI-First Experience delivers game-changing results for employees and their customers, beyond enterprise-wide AI adoption. ”
News of the acquisition comes five months after ServiceNow partnered with CoreWeave and others to invest $8.2 billion in UK data centres to accelerate AI growth.
A privately owned startup, MoveWorks is known for its agent AI solutions that help clients by solving employee problems through chat. The chatbot integrates with platforms such as ServiceNow, Salesforce’s Slack, and Microsoft’s SharePoint to help employees troubleshoot common issues. MoveWorks already counts celebrities among its customers, including Broadcom, Palo Alto Networks, and Pinterest.
Interestingly, ServiceNow’s own “Now Assist” competes with MoveWorks’ AI chatbots, but the two approach the challenges differently. While MoveWorks focuses on chat-driven problem solving, ServiceNow integrates AI into a wide range of service management platforms to streamline your workflows.
The acquisition is expected to close in the second half of 2025. ServiceNow does not detail how MoveWorks will be integrated after the acquisition, but the deal clearly reflects its commitment to expanding AI capabilities.
MoveWorks is on a stable growth pathway. In 2021, the company secured $200 million in the Series C funding round, raising its total funding to $315 million, reaching a valuation of $2.1 billion.
The acquisition isn’t just about adding another tool to ServiceNow’s weapon. It is to strengthen its position in the ever-growing competitive AI space, where demand for smarter, faster solutions is growing.
Founder of MoveWorks
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