In a deal that could shake up enterprise automation, ServiceNow Inc. agreed on Monday to acquire artificial intelligence (AI) firm Moveworks for $2.85 billion.
The deal, the largest ever for ServiceNow, is part of a companywide push into AI tools that perform tasks without human supervision. It is expected to close in the second half of 2025, SerivceNow said in a statement.
“With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI‑powered business transformation,” Amit Zavery, president, chief operating officer, and chief product officer at ServiceNow, said in a statement announcing the deal. “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.”
The combination of ServiceNow’s blossoming agentic AI product/workflow automation portfolio and Moveworks’ conversational AI and enterprise search could create an all-in-one AI solution for businesses, industry observers say. The companies already share 250 customers.
For ServiceNow, whose AI solutions generate $200 million in annual contract value, the accord extends its offerings across human resources, finance, IT and CRM. In particular, by integrating Moveworks into its operations, ServiceNow is likely to benefit in high-growth areas such as sales and CRM by embedding AI-powered self-service across core business functions.
The 9-year-old Moveworks provides companies such as GitHub and Broadcom Inc. with AI assistants to handle employee requests.
ServiceNow’s acquisition is likely to be one of many in the industry as it and other enterprise-software makers plunge into the AI market through internal development or mergers and acquisitions.
A survey of 1,000 IT decision-makers in organizations with more than 250 employees in the U.S., UK, Germany and Australia revealed 79% of them intend to invest more than $1 million in AI agents next year, and 92% believe those agents will propel real business results within a year to 18 months. Companies are looking at launching at least a dozen new AI agents in the next year, and 79% call the technology a top priority for the next 12 months.
More than 60% of digital workers are streamlining work with basic automation and using analytics to build customized dashboards to support business decisions, according to the 2024 Gartner Digital Worker Survey.
