ServiceNow has announced its plans to acquire Moveworks, a company specialized in AI assistants, for $2.85 billion in cash and stock. This acquisition is set to enhance ServiceNow’s offerings by integrating Moveworks’ AI-powered self-service and enterprise search technologies into its platform. The deal is expected to close in the second half of this year.
Amit Zavery, who serves as the president, chief operating officer, and chief product officer at ServiceNow, expressed enthusiasm about the potential of this collaboration. He emphasized that the integration of agentic AI and advanced search capabilities will revolutionize how employees interact with the company’s services. This move will enable ServiceNow to provide a universal AI assistant to enhance employee productivity across various workflows.
Moveworks, founded in 2016, has already established a strong presence in its field, helping organizations streamline access to AI for various enterprise needs, such as IT support and human resources queries. Notable clients of Moveworks include major companies like Hearst, Instacart, and Toyota.
The acquisition is expected to leverage both companies’ strengths, enhancing the usability and efficiency of business operations through improved AI functionalities. As Zavery stated, this partnership aims to redefine the user experience for employees and foster greater engagement with AI technologies.
For more details, visit ServiceNow and Moveworks.
