ServiceNow announced the closing of its $2.85 billion acquisition of Moveworks, a U.S.-based AI‑assistant platform, on December 15, 2025. The deal, structured as a combination of cash and stock, brings over 500 Moveworks employees and its AI assistant, enterprise search, and reasoning engine into ServiceNow’s Now Platform.
The transaction positions ServiceNow to accelerate its vision of an AI‑operating system for the agentic enterprise. By integrating Moveworks’ AI assistant with ServiceNow’s workflow automation, the company aims to create a unified, AI‑native front door that turns employee conversations into completed work at scale. The move directly challenges competitors such as Salesforce and Microsoft, who are also investing heavily in AI.
The acquisition is ServiceNow’s largest to date and represents a 20‑times revenue multiple on Moveworks’ 2024 revenue. Management highlighted that the deal will deepen ServiceNow’s presence in the employee‑experience and cybersecurity markets while adding a robust reasoning engine that can resolve 90% of IT requests autonomously. CEO Amit Zavery said the integration will “turn conversations into completed work securely and at scale,” underscoring the strategic acceleration of the company’s AI roadmap.
The expected close date for the transaction was the second half of 2025, and the deal was completed on December 15, 2025, ahead of the originally anticipated timeline. The cash‑and‑stock structure provides ServiceNow with flexibility to manage its balance sheet while rewarding Moveworks shareholders. Hundreds of AI experts from Moveworks are joining ServiceNow, bringing deep expertise that is expected to accelerate product development and go‑to‑market initiatives.
Analysts noted that while the high valuation multiple and potential near‑term dilution raised concerns, the strategic benefits of the acquisition—particularly the expansion of agentic AI capabilities and the ability to monetize the combined platform—were recognized as a long‑term growth driver. The deal also signals ServiceNow’s commitment to becoming a leading AI orchestration platform in the enterprise software market.
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