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.

ServiceNow expands its AI capabilities with the acquisition of Moveworks, adding 500 employees and enhancing enterprise-wide AI adoption for major companies.

ServiceNow Inc. has agreed to buy artificial intelligence firm Moveworks for $2.85 billion as part of its push into AI tools that can complete tasks without human supervision.

Two factors that could contribute to stronger results are: an unexpected boost in ServiceNow’s agentic AI revenues and a weaker dollar tamping FX headwinds.

Software company ServiceNow (NOW) announced its largest acquisition to date, agreeing to purchase AI startup Moveworks for $2.85 billion in a

ServiceNow said on Monday it would buy AI firm Moveworks for $2.85 billion in cash and stock, marking the software maker's largest-ever acquisition when enterprises are spending heavily on the technology to enhance their IT operations.

The acquisition will bring advanced, agentic AI-powered self-service and enterprise search technologies to customers.

ServiceNow will pay $2.85 billion for Moveworks, payable in a combination of cash and stock. The arrangement is expected to close during the second half of 2025 subject to regulatory approval and other conditions. After a 2021 $200 million funding round co-led by Tiger Global and Alkeon Capital, Moveworks was valued at $2.1 billion.

ServiceNow also expects the integration of Moveworks' capabilities to expedite the delivery of AI-powered solutions and enhance customer interactions. Moveworks co‑founder and C