ServiceNow Nears $3 Billion Acquisition of AI Firm Moveworks

ServiceNow is reportedly close to acquiring AI firm Moveworks for nearly $3 billion, according to Bloomberg. The deal could be announced soon, though discussions are ongoing.

ServiceNow is reportedly on the verge of acquiring Moveworks, an AI firm, for approximately $3 billion, according to Bloomberg. This acquisition would mark ServiceNow's largest to date and could be finalized in the coming days, although negotiations are still ongoing and may face delays.

Moveworks, based in California and founded in 2016, specializes in developing AI-powered assistants that help companies manage employee requests. The company serves clients such as Unilever, GitHub, and Broadcom. Moveworks was last valued at $2.1 billion during a 2021 funding round, which included investors like Kleiner Perkins and Bain Capital Ventures.

ServiceNow, under the leadership of CEO Bill McDermott, has been actively integrating generative AI features into its software products, further enhancing its capabilities in the AI domain.

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