ServiceNow has announced the $2.85 billion acquisition of Moveworks, a company specializing in AI-powered enterprise automation and search tools.
The deal, a mix of cash and stock, is expected to close in the second half of 2025, further solidifying the acquirer’s position as a leader in AI-driven business transformation.
Enhancing AI-Powered Enterprise Workflows
Moveworks, founded in 2016, helps enterprises automate IT support, HR, finance, and facilities management using natural language processing and AI chatbots. Its clients include Unilever, Instacart, Siemens, and Toyota.
ServiceNow President Amit Zavery emphasized the synergy between the two companies:
“By integrating Moveworks’ AI-driven enterprise search and assistant technology with ServiceNow’s automation platform, we will accelerate AI adoption across enterprises and drive game-changing outcomes for employees and customers.”
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AI Expansion & Market Growth
ServiceNow has aggressively expanded its AI offerings, with nearly 1,000 enterprise customers using its AI-powered solutions, generating $200 million in annual contract value. The company’s Q4 2024 revenue hit $2.96 billion, driven largely by AI adoption.
Earlier in January 2025, ServiceNow also acquired Cuein, an AI-native conversation data analysis platform, reinforcing its commitment to AI-powered automation.
Strategic Move in the Enterprise AI Market
With this acquisition, the firm aims to:
- Enhance AI-driven automation for IT and business operations.
- Expand Moveworks’ enterprise search technology to streamline workflows.
- Strengthen its competitive position against Microsoft, Google, and other enterprise AI leaders.
Moveworks CEO Bhavin Shah called the acquisition a significant step forward:
“Joining ServiceNow allows us to accelerate innovation and redefine how enterprises interact with AI-powered assistants.”
With $2.85B invested in Moveworks, the company is doubling down on AI-powered enterprise automation, making workflows more intelligent, efficient, and scalable.
