ServiceNow’s acquisition of Moveworks is reportedly being reviewed over antitrust concerns

ServiceNow's acquisition of Moveworks, a conversational AI platform, is reportedly being reviewed by antitrust regulators over concerns about the potential impact on competition. The investigation, which began in June, is being conducted by the U.S. Department of Justice. The $135 million deal, announced in March, would see ServiceNow, a leading provider of digital workflow solutions, acquire Moveworks, a company known for its AI-powered platform that helps employees with IT-related tasks. However, the antitrust review suggests that regulators are concerned about the potential for the acquisition to reduce competition in the market for AI-powered workplace assistance tools. The investigation is still ongoing, and it remains to be seen whether the regulators will ultimately approve the acquisition or require modifications to address their concerns. The outcome of this review could have significant implications for the future of the enterprise software market and the continued development of AI-powered workplace solutions.