Why ServiceNow Paid $2.85B for This AI Company

ServiceNow is expanding its AI portfolio as the company has signed a definitive agreement to acquire Moveworks, an AI-powered workplace assistant provider, for $2.85 billion. As per the Bloomberg report, the transaction is expected to close in the second half of 2025, subject to customary regulatory approvals and closing conditions. Here’s everything you need to know about: 

What Does Moveworks Do? 

Moveworks is an AI company founded in 2016 that specializes in AI-powered workplace assistants designed to enhance employee productivity and streamline organizational workflows. Its AI assistants can automate tasks such as payroll inquiries, recruitment processes, and customer service interactions. 

Why ServiceNow Bought Moveworks 

With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI-powered business transformation. 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.

Amit Zavery, ServiceNow president and COO

The acquisition positions ServiceNow to capitalize on the growing demand for AI-driven enterprise solutions. It aligns with ServiceNow’s strategy to incorporate AI into its platform, automating complex workflows across departments and enhancing customer interactions.

For example, recently, ServiceNow launched several new AI tools to automate complex enterprise workflows. These include AI Agent Orchestrator, AI Agent Studio, and pre-built AI agents designed to work across IT, customer service, and HR functions.