ServiceNow has announced its plan to acquire Moveworks for $2.85 billion in a move aimed at enhancing its AI capabilities. The deal, expected to close in the latter half of the year, will integrate Moveworks’ AI-powered front-end assistant and enterprise search technologies into the ServiceNow Platform.
According to ServiceNow, this acquisition will allow for a significant evolution in their agentic AI capabilities. Amit Zavery, the company’s COO and Chief Product Officer, emphasized that this step is part of a broader strategy to leverage agentic AI to transform business processes, thereby enhancing employee productivity and engagement.
With the integration, ServiceNow will provide a comprehensive self-service and search experience, positioning itself to cater to a wide range of requests across all workflows. Many of Moveworks’ customers already utilize ServiceNow products for accessing AI solutions in their enterprises.
Some notable clients of Moveworks include Hearst, Toyota, and Unilever, demonstrating the technology’s appeal and versatility. Zavery believes that this merger will substantially streamline workflows and offer an agile search tool that empowers employees to easily resolve issues.
Founded in 2016, Moveworks has built its reputation around delivering AI systems capable of understanding natural language, thus simplifying the process for employees seeking assistance with IT, HR inquiries, and more. The company secured $200 million in funding in 2021, bringing its total investments to $315 million to date.
Moveworks’ co-founder and CEO, Bhavin Shah, expressed excitement for the future, stating that joining forces with ServiceNow will accelerate their mission to innovate and enhance user experiences for both employees and customer service operations.
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