ServiceNow to buy Moveworks for $2.85B to grow its AI portfolio

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ServiceNow said on Monday that it has agreed to acquire Moveworks, which develops enterprise-focused automation and AI tools.

ServiceNow will pay $2.85 billion for Moveworks in a mix of cash and stock. The former expects the deal to close in the second half of 2025. Bloomberg reported the deal late on Sunday night.

As of June 2021, Moveworks was valued at $2.1 billion.

“With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI-powered business transformation,” ServiceNow president and COO Amit…



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ServiceNow to buy Moveworks for $2.85B to grow its AI portfolio


ServiceNow said on Monday that it has agreed to acquire Moveworks, which develops enterprise-focused automation and AI tools.

ServiceNow will pay $2.85 billion for Moveworks in a mix of cash and stock. The former expects the deal to close in the second half of 2025. Bloomberg reported the deal late on Sunday night.

As of June 2021, Moveworks was valued at $2.1 billion.

“With the acquisition of Moveworks, ServiceNow will take another giant leap forward in agentic AI-powered business transformation,” ServiceNow president and COO Amit…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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