ServiceNow to buy AI firm Moveworks in record $2.9 billion deal to tap new customers. Moveworks focuses on using AI to understand and resolve employee issues through chat. Its chatbot can be integrated with various platforms such as that of ServiceNow, Salesforce’s Slack and Microsoft’s SharePoint. ServiceNow integrates AI into its entire service management platform, aiming to streamline workflow and improve overall efficiency. The cash-and-stock deal for privately owned Moveworks is expected to close in the second half of 2025 and is ServiceNow’s largest-ever acquisition. The shares of Service now were down 2.4% in early trading on Monday. They have risen about 15% over the past 12 months. The deal was first reported by Bloomberg News on Sunday, citing people familiar with the matter. The companies have not commented on the deal’s existence. The move is expected by the end of the year, according to people familiar to the matter, and the deal is not expected to be completed until 2025.