ServiceNow has announced a definitive agreement to acquire Moveworks for $2.85 billion. This acquisition aims to combine ServiceNow’s agentic AI capabilities with Moveworks’ AI assistant and enterprise search technology, enhancing enterprise AI adoption and innovation. The integration will target key growth areas such as customer relationship management (CRM), providing a more effective experience for employees.

With Moveworks, ServiceNow plans to create a universal AI assistant to improve employee engagement and productivity. Moveworks’ existing deployments with ServiceNow as a central system position the companies for smooth integration post-acquisition.

Amit Zavery, president and COO of ServiceNow, stated, “The acquisition of Moveworks will enhance agentic AI-powered business transformations, allowing employees to leverage integrated AI solutions effectively.” Bhavin Shah, CEO of Moveworks, mentioned the opportunity to accelerate innovation within ServiceNow’s AI-driven platform to enhance user experience.

This acquisition reflects ServiceNow’s strategy of organic growth complemented by tuck-in acquisitions. Once integrated, the companies will deliver a unified search and self-service experience for employees across workflows through a single platform.

ServiceNow projects that the combined capabilities will address various operational needs, enhancing processes in sales, finance, HR, and customer service. Specific use cases include improving sales cycles and simplifying HR tasks using Moveworks’ AI assistant.

The transaction is set to close in the second half of 2025, subject to regulatory approvals. J.P. Morgan and Tidal Partners acted as financial advisors for ServiceNow during this acquisition process.