ServiceNow announced on Monday that it has reached a definitive agreement to acquire enterprise AI assistant provider Moveworks for USD 2.85 billion. The acquisition aims to enhance employee experiences by integrating Moveworks' AI assistant and enterprise search capabilities with ServiceNow's agentic AI automation.
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Enhancing AI-Powered Self-Service
"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," the companies said in a joint announcement on March 10.
ServiceNow and Moveworks aim to redefine enterprise AI by improving self-service experiences and intelligent search capabilities. Their combined technologies will enable employees to quickly find answers to requests, automate and complete routine tasks, and boost productivity. According to ServiceNow, most of Moveworks' current customer deployments already rely on ServiceNow as a key system of action for accessing enterprise AI, data, and workflows.
"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."
"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," said Bhavin Shah, co-founder and CEO of Moveworks.
ServiceNow reported that it has nearly 1,000 AI customers and has surpassed USD 200 million in annual contract value (ACV) for its Pro Plus AI solution as of December 31, 2024.
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Moveworks' AI Solutions and Market Presence
Moveworks' AI solutions currently serve companies such as Hearst, Instacart, Siemens, Toyota, and Unilever. With its new agentic platform expanding to nearly 5 million employee users in just 18 months—and nearly 90 percent of its customers deploying the technology company-wide—Moveworks' front-end AI agent and enterprise search services will extend ServiceNow's reach to every requestor in an organisation, according to the official release.
The acquisition aligns with ServiceNow's existing tuck-in strategy. In the initial integration phase, ServiceNow and Moveworks will deliver a unified, end-to-end search and self-service experience for all employee requestors across every workflow. Moveworks' AI assistant streamlines HR, CRM, finance, and IT processes, automating tasks such as contract renewals, customer support insights, payroll queries, and recruitment workflows.
According to the official release, routine payroll tasks and compensation-related questions can be handled automatically through AI-powered chat interactions. The Moveworks AI assistant can also simplify the recruiting process by quickly surfacing open job positions, enabling employees to refer candidates via chat, and suggesting interview questions aligned with company values and priorities.
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Integration Plans
ServiceNow plans to further integrate solutions such as CRM and customer service, tailored to specific customer personas, to create a cohesive selling, fulfill, and service experience on a single platform. By integrating Moveworks' capabilities even further, ServiceNow said it will accelerate its AI-powered solutions to improve customer interactions.
Under the terms of the agreement, ServiceNow will acquire Moveworks for USD 2.85 billion, 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.
