ServiceNow to strengthen its AI portfolio with Moveworks acquisition
By MYBRANDBOOK
This acquisition boosts ServiceNow’s AI capabilities, reinforcing its strategy to lead in AI-powered enterprise solutions, following its January 2025 acquisition of Cuein, an AI conversation data analysis platform for enhanced processing
ServiceNow has announced its agreement to acquire Moveworks, a leader in AI-powered enterprise automation, for $2.85 billion in a combination of cash and stock. The acquisition, expected to close in the second half of 2025, marks a strategic move by ServiceNow to expand its AI portfolio and enhance its AI capabilities. Bloomberg first reported the deal on Sunday (March 9) evening.
Moveworks, valued at $2.1 billion as of June 2021, has developed advanced AI tools aimed at automating enterprise functions such as IT support, human resources, finance, and facilities management. The company was founded in 2016 by Bhavin Shah, Vaibhav Nivargi, Varun Singh, and Jiang Chen, who brought together extensive experience from companies like LinkedIn, Meta, Yahoo, Google, and Airbnb. Moveworks initially gained attention for its AI-driven platform designed to automate high-level IT support, and it has since expanded to other areas, including HR and finance.
In a statement, Amit Zavery, President and COO of ServiceNow, highlighted the strategic fit of the acquisition. “Moveworks’ talented team and elegant AI-first experience, combined with ServiceNow’s powerful AI-driven workflow automation, will supercharge enterprise-wide AI adoption and deliver game-changing outcomes for employees and their customers,” Zavery said. He also noted that ServiceNow and Moveworks share several mutual customers, and the integration of their products will enable the creation of a more robust platform that combines ServiceNow’s AI strengths with Moveworks’ enterprise search and AI assistant technology.
Moveworks has raised over $300 million in funding from investors including Tiger Global, Iconiq Growth, and Kleiner Perkins. The company’s customer base includes high-profile clients like Unilever, Instacart, Siemens, and Toyota. The company currently employs more than 500 people.
Moveworks CEO Bhavin Shah expressed excitement about the acquisition, emphasizing the opportunity to accelerate innovation and enhance user experiences. "Becoming part of ServiceNow presents an incredible opportunity to deliver on our promise through their AI agent-fuelled platform to redefine the user experience for employees and customer service teams," Shah said.
This acquisition further strengthens ServiceNow’s AI capabilities, solidifying its strategy to lead in the AI-powered enterprise solutions space. In January 2025, ServiceNow also acquired Cuein, an AI-native conversation data analysis platform, to enhance its data processing capabilities. The company has reported substantial growth in its AI offerings, with nearly 1,000 AI customers and around $200 million in annual contract value for its “Pro Plus” AI tier as of December 2024.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
HAVELLS INDIA LTD.
TECHROUTES NETWORK PRIVATE LIMITED
LAVA INTERNATIONAL LTD.
STERLITE TECHNOLOGIES LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
Icons Of India : Deepak Sharma
Deepak Sharma spearheads Schneider Electric India. He brings with him ...
PARTNER SPEAKERS
PSU
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
UIDAI - Unique Identification Authority of India
UIDAI and the Aadhaar system represent a significant milestone in Indi...
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
