ServiceNow, a software company specializing in workflow management, has announced an agreement to acquire Moveworks for a staggering $2.85 billion in cash and ServiceNow stock. This move aligns with rumors circulating just days ago.
The acquisition of Moveworks, known for developing AI Agents, will complement ServiceNow’s existing AI assistant services. This integration aims to enhance the overall experience for customers and employees within organizations.
Bhavin Shah, the CEO and co-founder of Moveworks, along with the entire team, will join forces with ServiceNow to further develop chatbots and AI assistants on ServiceNow’s platform.
Source: Reuters
TLDR: ServiceNow acquires Moveworks for $2.85 billion to enhance its AI assistant services, with Bhavin Shah and the Moveworks team joining ServiceNow to work on chatbots and AI assistants.
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