India, March 11 -- ServiceNow, has announced the acquisition of AI automation startup Moveworks for $2.85 billion in a cash-and-stock deal. The acquisition, which is ServiceNow's largest to date, is expected to enhance its AI-driven automation capabilities for IT, HR, and enterprise services. The deal marks a significant move in the AI-powered automation space, strengthening ServiceNow's position in a highly competitive market.

Moveworks, founded in 2016 and based in Mountain View, California, specializes in AI-powered virtual assistants and enterprise automation. The company has a strong presence in IT support and HR automation, with an impressive clientele that includes Unilever, GitHub, Siemens, and Toyota. ServiceNow CEO Bill McDermo...