ServiceNow's $2.85B Move 🤝

🤝 ServiceNow acquires Moveworks for $2.85B to boost AI capabilities

🔑 Key takeaways:

ServiceNow will pay $2.85B for Moveworks, whose last reported valuation was $2.1B in June 2021.
The companies already share customers and integrated products, with Moveworks offering AI solutions for IT, HR, finance, and facilities management.
This follows ServiceNow's January acquisition of Cuein, with the company reporting nearly 1,000 AI customers and $200M in AI contract value.

The Rede on this: This acquisition reflects ServiceNow's ambition to deliver an "AI-first experience" that simplifies how employees interact with complex enterprise systems. As Moveworks CEO Shah noted, their technology "hides the complexity employees face at work" across multiple business functions. For enterprise leaders, this signals a shift toward platforms that can orchestrate workflows across departments rather than siloed AI solutions. With ServiceNow reporting that its AI offerings are its "fastest-growing" products, this acquisition suggests that abstracting away system complexity through conversational AI may become the new competitive differentiator in enterprise software.

Explore more: ServiceNow to buy Moveworks for $2.85B to grow its AI portfolio (techcrunch.com)