ServiceNow continues to assert its dominance in agentic artificial intelligence by announcing, this Monday, March 10, the acquisition of Moveworks for an amount of 2.85 billion dollars. This strategic purchase aims to integrate Moveworks’ AI assistants into ServiceNow solutions to provide businesses with an intelligent self-service tool, optimizing workflows and enhancing employee experience.
A strategic acquisition to accelerate in agentic AI
Moveworks, founded in 2016, is a company specialized in developing AI assistants and intelligent agents for employees. Its technology enables the automation of internal request management and improves companies’ productivity by facilitating access to essential information and resources.
This acquisition is part of a series of massive investments made by ServiceNow to strengthen its capabilities in generative AI. Before Moveworks, the publisher had already acquired Cuein and Raytion, thus consolidating its offering around process automation and data analysis.
A technological merger for a universal AI assistant
With Moveworks, ServiceNow aims to create a universal AI assistant for businesses. The goal is to combine automation and data management to provide quick responses to employees and optimize workflow management.
The Moveworks platform is already compatible with several major solutions such as Jira, Zendesk, Salesforce, Ivanti, Ariba, and Workday. By integrating this technology, ServiceNow aims to offer its clients a more intuitive and efficient AI.
A merger facilitated by a common clientele
The synergies between the two companies are already well established. Indeed, 250 clients use both Moveworks and ServiceNow. Among them are major names like Spotify, Databricks, Nutanix, Unilever, Broadcom, Marriott, and Toyota.
This common client base should allow for a fast integration of technologies and ensure a smooth adoption of the new solutions offered by ServiceNow.
A record investment for ServiceNow
This acquisition represents one of the largest purchases ever made by the publisher. Moveworks, valued at 2.1 billion dollars during its last round of funding in 2021, thus sees its value increase thanks to this operation.
The financing for the acquisition will be ensured by a combination of cash and stock, thereby consolidating ServiceNow’s position in the AI and ITSM (IT service management) market.
Moveworks, a major player in enterprise AI
Moveworks has established itself as a reference in the field of AI assistants. With 500 employees and over 5 million users, its tool is used by leading companies such as Broadcom, Palo Alto Networks, and Siemens.
Its solutions allow employees to more easily access internal resources, automate recurring requests, and improve knowledge management. With this expertise, ServiceNow strengthens its positioning in the enterprise AI market.
One step closer to autonomous AI
By combining Moveworks’ agentic AI and ServiceNow’s automation technologies, this acquisition marks a significant milestone towards systems capable of handling complex tasks without human intervention.
With ongoing investments in generative AI and process automation, ServiceNow positions itself as a key leader in artificial intelligence serving businesses.
