ServiceNow announced its acquisition of Moveworks for $2.85 billion, aiming to enhance its AI capabilities and reinforce its position in the enterprise software market.

Overview of the Deal

On March 10th, 2025, ServiceNow, a leading software provider focused on AI-driven business transformation, announced its acquisition of Moveworks in a deal valued at $2.85 billion. Moveworks is an AI company dedicated to improving employee productivity by automating various workplace support tasks, serving over 5 million employees globally.

This strategic transaction aims to position ServiceNow as a central player in the burgeoning business-enhancing AI market. Under the leadership of CEO Bill McDermott since 2019, ServiceNow has actively diversified its offerings and integrated cutting-edge AI technologies, culminating in this acquisition of Moveworks, which is expected to strengthen its capabilities considerably.

Industry Overview in the Target’s Specific Country

The market for AI-driven solutions in the United States has experienced exponential growth, driven by enterprises’ demand for efficiencies and automation. With companies