ServiceNow in advance talks to acquire AI firm Moveworks-report

GlobalData

Mon, Mar 10, 2025, 8:01 AM 1 min read

US-based bundle institution ServiceNow is nearing a woody to acquisition AI institution Moveworks, reported Bloomberg citing sources.

The deal, which could beryllium announced successful the coming days, whitethorn worth Moveworks astatine astir $3bn, sources acquainted with the substance told the publication.

While discussions are said to beryllium advanced, sources cautioned that the woody could inactive beryllium delayed oregon called off.

Moveworks, established successful 2016, specialises successful AI-powered assistants that code worker requests wrong organisations.

The exertion is presently employed by clients specified arsenic Unilever, GitHub, and Broadcom.

The AI company's maturation has been supported by investments from firms including Kleiner Perkins, Lightspeed Venture Partners, and Bain Capital Ventures, starring to a valuation of $2.1bn successful a 2021 backing round.

In 2024, ServiceNow and spot shaper Nvidia broadened their concern to supply telco-specific GenAI solutions to boost work experiences.

This partnership, which began successful 2023, involves the improvement of enterprise-grade GenAI capabilities connected the ServiceNow Platform, leveraging Nvidia's bundle and custom-trained ample connection models.

ServiceNow has elaborate its archetypal telco-specific solution, Now Assist for Telecommunications Service Management, which utilises Nvidia AI to augment cause productivity, enrich lawsuit experiences, and accelerate solution times.

"ServiceNow successful beforehand talks to get AI steadfast Moveworks-report" was primitively created and published by Verdict, a GlobalData owned brand.

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