Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 28, 2025

Article Excerpt

SERVICENOW INC., $797.76, symbol NOW on New York, is a cloud-based software provider that aims to help companies manage their digital workflows. ServiceNow went public in 2012 at $18 a share. On March 10, 2025, ServiceNow announced that it would acquire Moveworks, a California-based company that develops AI-driven assistants for large corporations. The business process automation firm’s customers currently include Broadcom, Palo Alto Networks, and Pinterest. Moveworks’ expertise is in providing AI-based search tools that allow organizations to find information within their own large data pools. Corporate search tools have emerged as an important new battleground among software companies. Finding the right data from within a company’s knowledge base helps reduce the chance that AI models will make up false information, or “hallucinate.” It also lets AI agents more accurately and effectively perform tasks. By acquiring Moveworks, ServiceNow is looking to accelerate its AI assistant capabilities to help it compete more effectively with Salesforce (symbol CRM on New York). The company will pay $2.85…