ServiceNow is reportedly in the final stages of acquiring AI assistant provider Moveworks in a deal that could be worth nearly $3 billion, making it the largest acquisition in the company’s history, according to a Bloomberg report. The deal is expected to be announced in the coming days, although sources indicate that last-minute changes could still arise.
Moveworks: AI-Driven Enterprise Solutions Provider
Founded in 2016, Moveworks specializes in AI-powered employee assistance tools, helping companies automate IT support, HR, and internal communications. Its clients include Unilever, GitHub, and Broadcom. The company previously secured backing from top-tier investors such as Kleiner Perkins, Lightspeed Venture Partners, and Bain Capital Ventures, reaching a valuation of $2.1 billion in a 2021 funding round.
ServiceNow’s AI Expansion Strategy
Led by CEO Bill McDermott, ServiceNow is known for its enterprise workflow software, streamlining IT and personnel operations for businesses. The Santa Clara-based company has been aggressively expanding into generative AI, integrating AI-driven capabilities into its platform to enhance automation and business productivity.
In January 2025, ServiceNow expanded its AI partnership with Google Cloud, integrating its enterprise technology solutions with Google’s AI, data analytics, and productivity tools. The ServiceNow Platform is now available on Google Cloud Marketplace, strengthening AI-powered workflow automation.
Why Everyone Wants to Partner With ServiceNow
According to ServiceNow India MD Sumeet Mathur, the company has positioned itself as a leader in AI-driven enterprise solutions, attracting partnerships from Indian IT giants, big tech firms, Databricks, and Snowflake.
ServiceNow has been developing AI capabilities for over a decade, with its 2020 acquisition of Element AI laying the foundation for large language model (LLM) advancements. Its GenAI offerings are persona-focused, designed for employees, agents, and developers to enhance workplace automation.
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What This Acquisition Means for AI in Enterprise Software
With the potential acquisition of Moveworks, ServiceNow is doubling down on AI-driven enterprise solutions, strengthening its position in AI-powered workflow automation. The deal would also provide ServiceNow with enhanced capabilities in IT support automation, HR solutions, and corporate communications, expanding its competitive edge in the enterprise software market.
As AI adoption accelerates in enterprise technology, ServiceNow’s latest move signals the growing importance of AI-driven automation in business operations worldwide.
