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ServiceNow 8-K Report, Regulation FD Disclosure (Mar 10, 2025)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed March 10, 2025
Period End
March 10, 2025
Security
NOW
In the record · 2016–202610-K1110-Q338-K97

NOW filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 97 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. Deal closed8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Aug ’22Aug ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed March 10, 2025. Cited figures are marked; the original filing is the authoritative source.

On March 10, 2025, ServiceNow (NYSE: NOW) announced a definitive agreement to acquire Moveworks, Inc., an agentic AI assistant and enterprise search company, for $2.85 billiona, subject to customary purchase price adjustments.

The consideration is payable in a combination of cash and ServiceNow stock. The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. J.P.

Morgan Securities LLC served as lead financial advisor, with Tidal Partners LLC also advising ServiceNow. Strategically, the deal is framed as an extension of ServiceNow's tuck-in acquisition strategy and aims to bring its agentic AI platform to every employee via Moveworks' front-end AI assistant and enterprise search capabilities. Management cites that ServiceNow has nearly 1,000 AI customers and has surpassed $200 millionb in annual contract value for its Pro Plus AI solution as of December 31, 2024.

Moveworks reports roughly 5 million employee users on its platform, about 350+ large enterprise customers, and approximately 250 mutual customers with ServiceNow, with most Moveworks deployments already using ServiceNow as a system of action. The companies also plan to expand into CRM and customer service use cases.

For investors, the key considerations are the purchase price relative to ServiceNow's scale, the cash and stock mix and resulting dilution, the regulatory review timeline, and whether the acquired technology can be integrated quickly enough to drive AI adoption and monetization. This 8-K is a Regulation FD disclosure and does not include financial statements, deal-specific accretion or dilution figures, or detailed purchase price allocation, which are expected in future filings such as the Form S-4 registration statement.

02—Key points

Key Highlights

  1. ServiceNow agreed to acquire Moveworks for $2.85 billion, subject to customary purchase price adjustments, payable in a mix of cash and stock.
  2. Expected close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
  3. Moveworks adds a front-end agentic AI assistant and enterprise search technology to ServiceNow's platform, targeting employee productivity across HR, CRM, finance, and IT.
  4. ServiceNow reports nearly 1,000 AI customers and over $200 million in ACV for its Pro Plus AI solution as of December 31, 2024.
  5. Moveworks reports approximately 5 million employee users and roughly 250 mutual customers with ServiceNow, with most Moveworks customers already using ServiceNow.
  6. The deal extends ServiceNow's tuck-in acquisition strategy and supports its push into CRM and customer service on a single platform.
  7. ServiceNow will file a Form S-4 registration statement, which will contain further details on the transaction and the stock component.

03—Questions

Frequently Asked Questions

  1. How much is ServiceNow paying for Moveworks?

    ServiceNow will acquire Moveworks for $2.85 billion, subject to customary purchase price adjustments, payable in a combination of cash and ServiceNow common stock.

  2. When is the Moveworks acquisition expected to close?

    The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals and closing conditions.

  3. What does Moveworks bring to ServiceNow?

    Moveworks provides a front-end agentic AI assistant and enterprise search technology that connects enterprise systems and lets employees find answers and complete tasks from a single entry point, complementing ServiceNow's workflow automation and AI agent orchestration.

  4. Is the deal likely to affect ServiceNow's existing customers?

    Most Moveworks customers already use ServiceNow as a system of action, and about 250 customers are shared between the companies, suggesting a relatively seamless integration. Management has not disclosed specific revenue or margin impacts in this filing.

  5. What are the main risks to completing the deal?

    Risks include obtaining regulatory approvals, challenges integrating Moveworks' technology, retaining Moveworks employees, unanticipated liabilities from Moveworks' legacy business, potential adverse tax or accounting effects, and possible disruption to operations and management attention.

04—Continue

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