Today, ServiceNow announced it has signed a definitive agreement to acquire Moveworks. The acquisition will combine ServiceNow’s agentic AI and automation strengths with Moveworks’ front-end AI assistant and enterprise search technology to unlock new experiences for every employee in every corner of the business.
Following the closing (together with Moveworks), ServiceNow (with thousands of AI agents already deployed) will continue to drive the use of its agentic AI ServiceNow Platform to accelerate enterprise adoption and innovation across key growth areas, including CRM.
ServiceNow and Moveworks will redefine the value of how to put AI to work, creating a new standard for the future of employee engagement with a powerful universal AI assistant, along with more perceptive AI-based enterprise search, to find fast answers to requests, automate and complete everyday tasks, and increase productivity. And most of Moveworks’ current customer deployments use ServiceNow as a system of action to access enterprise AI, data, and workflows, pointing to a seamless integration for the companies.
ServiceNow’s new AI-based solution is the fastest-growing product introduction in the company’s history. ServiceNow has nearly 1,000 AI customers and has surpassed $200 million in annual contract value (ACV) for its Pro Plus AI solution as of December 31, 2024. And with a team of more than 500 AI experts at the forefront of agentic AI architecture and experience, Moveworks saw exceptional adoption of its AI assistant with leading Fortune 500 and Global 2000 companies like Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, and Unilever.
With a new agentic platform growing to nearly 5 million employee users in about 18 months, and nearly 90% of its customers deploying the technology to all of their employees, Moveworks’ front-end AI agent and enterprise search services will expand ServiceNow’s reach to every requestor in an organization. And ServiceNow is already one of Moveworks’ more than 100 technology integrations, and the companies have approximately 250 mutual customers.
The deal builds on ServiceNow’s existing tuck-in strategy and ongoing organic growth, and the ServiceNow Platform’s built-in agentic AI and decades of leadership in automating complex workflows across departments, systems, and silos to enable employees to achieve even more, faster. And in initial integration phases, ServiceNow and Moveworks will deliver a unified, end-to-end search and self-service experience for all employee requestors across every workflow – all from a single entry point.
As domain-specific AI agents become enhanced to accomplish tasks across HR, CRM, finance, IT, and more, ServiceNow’s powerful agent orchestration capabilities connect, analyze, and manage AI agents, ensuring they work in harmony across tasks, systems, and departments.
Common use cases with Moveworks include front-end employee automations for sales, CRM, finance, and HR. For example, Moveworks’ AI assistant drives the sales cycle from lead to loyalty. And Moveworks’ AI assistant has access to up-to-date account information and can nudge salespeople when an account needs attention, such as a contract renewal.
Moveworks’s AI assistant could also provide instant customer insights like contact details, order history, and open support tickets so customer service agents can provide faster, more informed service. Routine employee payroll tasks and compensation questions can be handled automatically through simple chats with the AI assistant, and the Moveworks AI assistant can simplify the recruiting process by quickly surfacing open jobs, letting employees refer candidates through chat, and suggesting interview questions aligned with company values and priorities.
This strategic deal also positions ServiceNow to capitalize on the massive market opportunity ahead. The company plans to integrate CRM and customer service solutions tailored to customer personas to deliver a cohesive sell, fulfill, and service experience on a single platform. And by integrating Moveworks’ capabilities further, ServiceNow will accelerate its AI-powered solutions to improve customer interactions.
Under the terms of the deal, ServiceNow will acquire Moveworks for $2.85 billion, subject to customary purchase price adjustments, payable in a combination of cash and stock. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals and closing conditions.
J.P. Morgan Securities served as ServiceNow’s lead financial advisor. And Tidal Partners also served as ServiceNow’s financial advisors.
KEY QUOTES:
“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. 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, president, chief operating officer, and chief product officer at ServiceNow
“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.”
- Bhavin Shah, co-founder and CEO, Moveworks
