ServiceNow Acquires AI Firm Moveworks for $2.85 Billion in Major AI Expansion Move
18 Sources
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Why ServiceNow Stock Tumbled by Almost 8% Today | The Motley Fool
Many stocks declined during the market's rout on Monday, but business software company ServiceNow (NOW -7.85%) lost more than most. On news of yet another acquisition, investors traded out of the specialty tech stock, leaving with a loss of just under 8% on the day. That was a steeper fall than the
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ServiceNow to Buy AI Firm Moveworks for $2.9 Billion to Tap New Customers
(Reuters) - ServiceNow said on Monday it would buy artificial intelligence company Moveworks for $2.85 billion, marking the software maker's largest-ever acquisition as it looks to expand its product portfolio and attract more customers. The cash and stock deal for privately-owned Moveworks comes
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ServiceNow to buy AI firm Moveworks in record $2.9 billion deal to tap new customers
March 10 (Reuters) - ServiceNow said on Monday it would buy artificial intelligence firm Moveworks for $2.85 billion, marking the software maker's largest-ever acquisition at a time when enterprises are spending heavily to enhance their IT operations. The cash-and-stock deal for privately owned
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ServiceNow to Acquire Moveworks for USD 2.85 Billion to Expand AI-Powered Automation
The acquisition aligns with ServiceNow's strategy to expand AI-powered customer service, HR, and IT automation. 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
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ServiceNow stock falls following Moveworks acquisition announcement By Investing.com
Investing.com -- Shares of ServiceNow (NYSE: NYSE:NOW) dropped 5.5% as the company announced its definitive agreement to acquire AI firm Moveworks for $2.85 billion. The decline reflects investor concerns over the significant cash and stock deal, which aims to integrate Moveworks' AI assistant and
[6]
ServiceNow Stock Is Sliding Monday: What's Going On? - ServiceNow (NYSE:NOW)
ServiceNow Inc NOW shares are trading lower. The company on Monday announced a deal to acquire Moveworks. What Happened: ServiceNow announced that it signed a definitive agreement to acquire Moveworks for $2.85 billion. The deal brings together ServiceNow's agentic AI and automation strengths with
[7]
ServiceNow to acquire agentic AI platform Moveworks in $2.9B deal - SiliconANGLE
ServiceNow to acquire agentic AI platform Moveworks in $2.9B deal ServiceNow Inc. announced today it will acquire Moveworks Inc., a generative artificial intelligence platform that builds AI automation tools and enterprise AI agents designed to streamline employee workflows. ServiceNow will pay
[8]
ServiceNow to Acquire Moveworks for $2.85 Billion in Cash and Stock
ServiceNow agreed to acquire Moveworks for $2.85 billion in a cash and stock deal, part of a greater focus on artificial intelligence within the company. ServiceNow, the cloud-based software company, said the deal will combine its agentic AI and automation strengths with Moveworks' front-end AI
[9]
ServiceNow Nears $3 Billion Acquisition of AI Firm Moveworks
Founded in 2016, Moveworks specialises in AI-driven employee assistance tools used by major companies such as Unilever, GitHub, and Broadcom. ServiceNow is reportedly finalising a deal to acquire AI assistant provider Moveworks in what could be its largest acquisition to date, according to a
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ServiceNow CFO: Moveworks Buy 'Extends Our Leadership In Agentic AI'
'At the end of the day, ServiceNow has been and will continue to be an agentic AI-first mover. The acquisition of Moveworks really extends our leadership in agentic AI in ways that we believe are really going to redefine the value of AI at work for every employee,' says ServiceNow President and CFO
[11]
Why ServiceNow Stock Is Soaring Today | The Motley Fool
Shares of ServiceNow Inc. (NOW 3.13%) are surging on Tuesday. The company's stock gained 4.5% as of 2:50 p.m. ET and was up as much as 5.6% earlier in the day. The rise comes as the S&P 500 is up 0.2% and the Nasdaq Composite is up 1%. The artificial intelligence (AI)-driven cloud computing and
[12]
ServiceNow Set to Accelerate AI Adoption With Moveworks Acquisition | Investing.com UK
ServiceNow (NYSE:NOW), a prominent player in the field of AI-driven business solutions, has announced a significant move to acquire Moveworks for $2.85 billion. This acquisition is intended to bolster ServiceNow's capabilities in artificial intelligence by integrating Moveworks' advanced AI
[13]
ServiceNow Eyes $3 Billion AI Deal, Targets Boost From Moveworks Chatbot Tech - ServiceNow (NYSE:NOW)
ServiceNow Inc NOW is nearing a deal to snap artificial intelligence firm Moveworks. The purchase could value Moveworks at close to $3 billion, Bloomberg reports. Moveworks provides companies like Broadcom Inc AVGO with AI assistants to handle employee requests. Also Read: AMD Closing Competitive
[14]
ServiceNow to buy Moveworks for $2.85B to grow its AI portfolio | TechCrunch
ServiceNow said on Monday that it has agreed to acquire Moveworks, which develops enterprise-focused automation and AI tools. ServiceNow will pay $2.85 billion for Moveworks in a mix of cash and stock. The former expects the deal to close in the second half of 2025. Bloomberg reported the deal
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ServiceNow To Buy Moveworks In Bet On Enterprise Agentic AI
ServiceNow, which has been on the leading edge of bringing agentic AI to enterprise users via its ServiceNow Now platform, is advancing its capabilities with its planned $2.85 billion acquisition of Moveworks, which develops front-end AI assistant and enterprise search technology. Digital
[16]
ServiceNow to acquire Moveworks for $2.85 billion - bridging the gap between AI enterprise search and execution
ServiceNow has announced its acquisition of Moveworks for $2.85 billion, signaling a strategic move to connect AI-driven search capabilities with ServiceNow's workflow automation engine. The deal, expected to close in the second half of 2025, aims to allow employees to not only find information but
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ServiceNow to extend leading agentic AI to every employee for every corner of the business with acquisition of Moveworks
ServiceNow's agentic AI and automation strengths plus Moveworks' front-end AI assistant and enterprise search technology to accelerate enterprise AI adoption and innovation Together with Moveworks, ServiceNow will drive use of its agentic AI platform across key growth areas including
[18]
ServiceNow to buy AI firm Moveworks for $2.9 billion to tap new customers
March 10 (Reuters) - ServiceNow (NOW.N), opens new tab said on Monday it would buy artificial intelligence company Moveworks for $2.85 billion, marking the software maker's largest-ever acquisition as it looks to expand its product portfolio and attract more customers. The cash and stock deal for
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ServiceNow announces its largest-ever acquisition, buying AI company Moveworks for $2.85 billion to enhance its AI-powered automation capabilities and expand its customer base.
ServiceNow's Strategic AI Acquisition
ServiceNow, a leading business software company, has announced its largest-ever acquisition, agreeing to purchase artificial intelligence firm Moveworks for $2.85 billion
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. This strategic move aims to enhance ServiceNow's AI-powered automation capabilities and expand its customer base in the rapidly growing enterprise AI market.Deal Structure and Market Reaction
The acquisition, expected to close in the second half of 2025, will be financed through a combination of cash and stock
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. Following the announcement, ServiceNow's stock tumbled by almost 8%, reflecting investor concerns over the significant price tag and potential integration challenges1
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.Moveworks' AI Capabilities
Moveworks specializes in agentic AI solutions, offering an AI assistant and enterprise search technology that focuses on resolving employee issues through chat interfaces
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. The company's impressive client roster includes notable names such as Broadcom, Palo Alto Networks, Pinterest, Spotify, and Unilever1
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.Strategic Rationale and Synergies
ServiceNow plans to integrate Moveworks' front-end AI assistant and search technology with its native AI capabilities to create a powerful universal AI assistant
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. This combination is expected to:- Redefine employee engagement and productivity
- Enhance self-service experiences and intelligent search capabilities
- Streamline HR, CRM, finance, and IT processes
- Automate routine tasks such as contract renewals and payroll queries
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ServiceNow's AI Growth and Market Position
Prior to this acquisition, ServiceNow had already made significant strides in the AI space:
- Nearly 1,000 AI customers
- Over $200 million in annual contract value for its Pro Plus AI solution
- 5 million employee users on its agentic platform in just 18 months
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Industry Impact and Future Outlook
The acquisition aligns with the broader trend of enterprises adopting AI and investing in automating their IT operations to improve productivity
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. By combining Moveworks' AI-first experience with ServiceNow's workflow automation platform, the company aims to accelerate enterprise-wide AI adoption and deliver transformative outcomes for employees and customers4
.Competitive Landscape
While ServiceNow's "Now Assist" and Moveworks' AI chatbot have been competitors, they take different approaches to enterprise AI solutions
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. This acquisition allows ServiceNow to leverage Moveworks' strengths in chat-based issue resolution and integration capabilities with various platforms such as Slack and SharePoint2
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.Financial Implications
The $2.85 billion price tag represents a significant investment for ServiceNow, nearly equaling its total non-GAAP net income for full-year 2024
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. This has raised some concerns among investors about the potential return on investment and the impact on the company's financials5
.As the enterprise AI market continues to evolve rapidly, the success of this acquisition will likely depend on ServiceNow's ability to effectively integrate Moveworks' technology and capitalize on the growing demand for AI-powered business transformation solutions.
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