ServiceNow to acquire AI startup Moveworks for $2.85B to boost automation, marking its largest-ever deal

ServiceNow is making its biggest bet yet. The software giant announced on Monday that it’s acquiring AI startup Moveworks for $2.85 billion in a cash and stock deal, marking the largest acquisition in its history.

The move signals ServiceNow’s push to strengthen its product lineup and attract more customers as AI adoption surges. Companies across industries are investing in automating their IT operations, looking for ways to improve productivity and reduce manual tasks.

“With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI‑powered business transformation,” Amit Zavery, president, chief operating officer, and chief product officer at ServiceNow said in a news release.

Zavery added, “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.”

The news of the acquisition comes five months after ServiceNow partnered with CoreWeave and others to invest $8.2 billion in UK data centers to accelerate AI growth.

Moveworks, a privately owned startup, is known for its agentic AI solutions that assist clients by resolving employee issues through chat. Its chatbot integrates with platforms like ServiceNow, Salesforce’s Slack, and Microsoft’s SharePoint, helping employees troubleshoot common problems. Moveworks already counts big names like Broadcom, Palo Alto Networks, and Pinterest among its customers.

Interestingly, ServiceNow’s own “Now Assist” competes with Moveworks’ AI chatbot, but the two approach the challenge differently. While Moveworks focuses on chat-driven problem-solving, ServiceNow integrates AI across its broader service management platform to streamline workflows.

The acquisition is expected to close in the second half of 2025. ServiceNow hasn’t detailed how Moveworks will be integrated post-acquisition, but the deal clearly reflects its commitment to expanding its AI capabilities.

Moveworks has been on a steady growth path. In 2021, it secured $200 million in a Series C funding round, bringing its total funding to $315 million and reaching a valuation of $2.1 billion.

This acquisition isn’t just about adding another tool to ServiceNow’s arsenal. It’s about strengthening its position in the competitive AI space, where the demand for smarter, faster solutions continues to grow.

MoveWorks Founders