Highlights:
- Moveworks team will merge with ServiceNow to enhance its existing AI agent capabilities with agentic AI technology.
- Moveworks has created an agentic AI assistant designed to automate tasks in sales, CRM, finance, and HR.
Recently, ServiceNow Inc. announced its acquisition of Moveworks Inc., a generative AI platform that develops automation tools and enterprise AI agents to optimize employee workflows.
ServiceNow will acquire Moveworks for USD 2.85 billion in a cash and stock deal, expected to close in the second half of 2025, pending regulatory approval and other conditions. Following a USD 200 million funding round in 2021, co-led by Tiger Global and Alkeon Capital, Moveworks was valued at USD 2.1 billion.
“With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI‑powered business transformation. As agentic AI and enterprise‑grade search forever change how we work, ServiceNow moved early to empower employees through AI,” said Amit Zavery, President, Chief Operating Officer and Chief Product Officer at ServiceNow.
Zavery stated that the Moveworks team will merge with ServiceNow to enhance its existing AI agent capabilities with agentic AI technology. AI agents are advanced systems that require minimal human supervision, processing data from sources like text, voice, and video to function as proactive virtual assistants. Across the industry, agentic AI is gaining traction for its ability to automate repetitive tasks, enabling employees to focus on more strategic and creative work.
Moveworks has developed an agentic AI assistant that automates tasks across sales, CRM, finance, and HR. With real-time access to enterprise data, its AI agents keep sales teams informed on accounts, assist with drafting emails, conduct research, and deliver instant insights during interactions with potential contacts.
The company’s AI search and automation capabilities are used across various industries by customers such as Hearst Communications Inc., Instacart, Palo Alto Networks Inc., Siemens AG, Toyota Motor Corp., and Unilever PLC.
“Moveworks hides the complexity employees face at work by giving them an intuitive, engaging starting place to search and drive action across any enterprise system. 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 Chief Executive.
ServiceNow stated that its agentic AI services have become its fastest-growing offering, with nearly 1,000 AI customers contributing to an annualized contract value exceeding USD 200 million for its Pro Plus AI solution by the end of last year.
Bloomberg Intelligence analysts Anurag Rana and Andrew Girard noted in a report that acquiring Moveworks could support ServiceNow in maintaining its strong sales growth amid the competitive cloud software market.
“We expect its positioning in process optimization to lead to more demand stability vs. peers this year. ServiceNow’s solid performance through uncertain economic conditions reinforces our expectation that the company could exceed USD 15 billion in subscription revenue by 2026,” Rana and Girard said.
In January, ServiceNow’s fiscal-year sales report underperformed expectations, accompanied by a weaker-than-anticipated forecast. The company emphasized its focus on generative AI, describing it as the “fuel” for its “high-performing engine” and anticipating it to be a pivotal moment as AI adoption accelerates.