ServiceNow Nears $3 Billion Deal to Acquire AI Innovator Moveworks

Strategic Move Could Redefine AI-Powered Workflow Automation / Bloomberg

ServiceNow Inc, a powerhouse in cloud-based workflow solutions, is reportedly on the verge of securing its most significant acquisition yet by purchasing Moveworks, an artificial intelligence company specializing in employee support automation, for nearly $3 billion, according to Bloomberg sources familiar with the matter. This potential deal, which could be unveiled shortly, positions ServiceNow to bolster its generative AI capabilities, a move that aligns seamlessly with its ongoing mission to enhance digital transformation for enterprises worldwide. While negotiations are in their final stages, insiders caution that the talks could still encounter delays or unravel entirely, leaving room for speculation about the outcome of this high-stakes transaction. The news has already stirred interest among investors and industry watchers, given the hefty valuation and the strategic implications for both companies involved.

Moveworks, established in 2016 and headquartered in Mountain View, California, has carved out a niche in the AI landscape by developing intelligent assistants that streamline employee requests across IT, HR, and customer service domains. Its client roster boasts prominent names like Unilever PLC, GitHub Inc, and Broadcom Inc, showcasing its appeal to large-scale enterprises seeking efficient support solutions. Previously valued at $2.1 billion during a 2021 funding round supported by heavyweights such as Kleiner Perkins, Lightspeed Venture Partners, and Bain Capital Ventures, Moveworks now appears poised for a valuation leap to nearly $3 billion under this prospective deal. This increase reflects the growing demand for AI-driven employee support tools, a market segment where Moveworks has demonstrated notable prowess. For ServiceNow, led by CEO Bill McDermott, acquiring Moveworks could amplify its platform’s ability to deliver sophisticated, AI-enhanced workflow automation, a critical advantage in today’s competitive tech environment.

The financial scope of this acquisition underscores its importance to ServiceNow, a company with a market capitalization hovering around $191 billion based on recent stock estimates. At nearly $3 billion, the deal would dwarf ServiceNow’s previous acquisitions, such as the $100 million purchase of Neebula Systems over a decade ago, marking a bold step in its growth strategy. On the day of the report, ServiceNow’s stock dipped by 1.90%, while Unilever saw a 1.52% uptick and Broadcom surged by 8.64%. Though it remains uncertain whether these shifts directly tie to the acquisition rumors, they provide a snapshot of market dynamics surrounding the involved parties. Moveworks’ technology, which integrates seamlessly with platforms like ServiceNow, Slack, and Microsoft Teams, offers features such as autonomous ticket resolution and knowledge base indexing, capabilities that could enhance ServiceNow’s offerings for shared clients and beyond. This synergy hints at a future where AI-powered employee support becomes a cornerstone of ServiceNow’s ecosystem, potentially driving efficiency and reducing operational burdens for enterprises globally.

Delving deeper into Moveworks’ value proposition, its AI assistants are designed to tackle 15 to 30% of daily IT tickets autonomously, a feat that underscores its potential to transform IT service management when paired with ServiceNow’s robust infrastructure. The company’s existing integration with ServiceNow allows it to manage tasks like ticket creation, updates, and permission-based knowledge searches, making it a natural fit for an acquisition aimed at deepening AI functionality. ServiceNow, with approximately 23,000 employees and a track record of 33 acquisitions, has consistently pursued growth through strategic purchases, most recently snapping up CueIn in January 2025. This latest move, if finalized, could elevate its standing in the generative AI space, a priority area under McDermott’s leadership as businesses increasingly demand intelligent automation solutions to stay competitive.

Despite the excitement, the absence of official statements from ServiceNow or Moveworks keeps the deal’s status in limbo. A review of both companies’ press channels reveals no mention of the acquisition, aligning with Bloomberg’s note that discussions are ongoing. This uncertainty adds a layer of intrigue, as stakeholders await confirmation that could reshape the AI and workflow automation landscape. Should the deal proceed, it would not only reflect ServiceNow’s ambition to dominate the AI-enhanced enterprise software market but also signal a broader trend of consolidation in the AI sector, where innovative startups like Moveworks become prime targets for established players seeking to future-proof their portfolios.

For those tracking long-tail keyword trends like “ServiceNow Moveworks acquisition details” or “AI-powered employee support solutions,” this development offers a wealth of insights. The potential $3 billion valuation of Moveworks highlights the premium placed on AI technologies that address real-world enterprise challenges, while ServiceNow’s pursuit of this deal reinforces its commitment to staying ahead in the generative AI race. Whether the acquisition materializes or falters, its implications ripple across the tech industry, spotlighting the intersection of AI innovation and corporate strategy in 2025’s evolving market. Observers are left to monitor the coming days for updates, as this blockbuster move could redefine how businesses leverage AI to optimize their operations.