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With the acquisition of Moveworks for $ 2.85 billion, ServiceNow performs the largest operation in its history. The challenge: to develop tools capable of automating complex tasks without human supervision. This decision marks strategic acceleration towards agentic AI, an area where the company led by Bill McDermott wants to win.
Moveworks, founded in 2016 and valued $ 2.1 billion in 2021, specialized in conversational assistants for the management of internal requests in business. Its technology is already used by groups like Unilever, Github and Broadcom. The first project will concern the development of an intelligent self-service tool, designed to further automate the management of internal demands of companies and reduce their dependence on IT and support teams.
This acquisition comes as ServiceNow is experiencing an increasing adoption of its AI solutions. The company has announced that it exceeded $ 200 million in annual contract value on its premium offer. It claims nearly 1,000 customers operating its artificial intelligence tools, a strong signal on traction of the market. However, despite this dynamic, ServiceNow recently revised its growth forecasts, explaining that priority remained the adoption of these new products before real large -scale monetization. The acquisition of Moveworks could change the situation by accelerating use and providing an expertise already proven.
This strategic movement recalls the major growth operations carried out by Bill McDermott during his passage at the head of SAP, where he had orchestrated quality buyouts and competitor. Its approach is based on the integration of complementary technologies in order to build a complete software suite, capable of establishing itself as a standard of the market. An operation which should be closely scrutinized by its competitors, notably Salesforce and Microsoft.
