ServiceNow to acquire Moveworks for $2.85B

ServiceNow (NOW) announced it has signed a definitive agreement to acquire Moveworks. The acquisition will combine ServiceNow’s agentic AI and automation strengths with Moveworks’ front-end AI assistant and enterprise search technology to unlock new experiences for every employee for every corner of the business. Following closing, together with Moveworks, ServiceNow – with thousands of AI agents already deployed – will continue to drive use of its agentic AI ServiceNow Platform to accelerate enterprise adoption and innovation across key growth areas including CRM. “With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI-powered business transformation,” said Amit Zavery, president, chief operating officer, and chief product officer at ServiceNow. “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.” Under the terms of the agreement, ServiceNow will acquire Moveworks for $2.85B, subject to customary purchase price adjustments, payable in a combination of cash and stock. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals and closing conditions.