The Agents Are Coming: Implications Of ServiceNow’s $2.9 Billion Moveworks Acquisition

The Agents Are Coming: Implications Of ServiceNow’s $2.9 Billion Moveworks Acquisition

On March 10, ServiceNow, a multinational enterprise workflow automation software firm, announced its acquisition of Moveworks, a front-end AI assistant and enterprise search engine provider. The $2.9 billion deal is ServiceNow’s biggest acquisition to date and marks a continuation of its deep commitment to domain-specific agents and agent orchestration as the future of software as a service (SaaS). 

In the past several years ServiceNow has steadily augmented its AI offerings through in-house product releases, such as GenAI-infused search in 2023 and copilot-style AI assistants through its partnership with Microsoft. The firm also continues to pursue tuck-in acquisitions to fulfil its aim of becoming a complete AI platform provider. Key milestones on this journey include the acquisition of Parlo for natural language understanding in 2018 and the acquisitions of Loom Systems, Passage AI and Element AI in 2020. However, 2025 represents a series of double-downs on an agentic future, off the back of encouraging business results and the need to remain competitive in a fast-paced market. According to ServiceNow, its new AI solution is the fastest-growing product introduction in the firm’s history. With almost 1,000 AI customers, ServiceNow states that it surpassed $200 million in annual contract value (ACV) for its Pro Plus AI solution by end-2024. In 2025 the firm announced the launch of its AI Agent Orchestrator and AI Agent Studio solutions, as well as a Yokohama platform release.

With a team of more than 500, the acquisition of California-headquartered Moveworks adds significant AI resources to the broader ServiceNow organization. The move is designed to bridge the gap between AI agents and business systems – ServiceNow is already one of Moveworks’s more than 100 technology integrations. Its introduction facilitates ServiceNow’s goal of acting as a higher-level agent orchestrator, tapping into organizations’ often sprawling enterprise SaaS solutions. Alongside its agentic orchestration engine, the firm’s Enterprise Search product combines retrieval-augmented generation (RAG) with domain-tuned re-ranking models to deliver semantic search results for employees scouring their organizations’ data. Such conversational and search features are welcome additions to ServiceNow’s AI offering. Viewed through a commercial lens, Moveworks offers several meaningful synergies, with more than 250 mutual customers. ServiceNow is also subsuming a competitor: Moveworks competes with its Now Assist solution. 

What can other enterprise software vendors read into this? As agents become more widely embedded, natural language and speech-based system interactions will become the norm. Moveworks facilitates this evolution in human-software interactions and enhances enterprise data accessibility. For more information on AI market news and insights on common use cases, visit the Verdantix website.