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ServiceNow’s acquisition of Moveworks is reportedly being reviewed over antitrust concerns
As first reported by Bloomberg, the U.S. Justice Department has initiated a review to assess potential antitrust concerns surrounding ServiceNow’s planned $2.85 billion acquisition of enterprise AI startup Moveworks. The regulatory scrutiny began in June and has since resulted in both companies receiving a “second request” for additional information prior to closing the deal.
ServiceNow announced its plans to acquire Moveworks back in March, with an expected completion date set for the second half of 2025. Since then, no further updates have been provided regarding the status of the acquisition.
Moveworks has declined to comment on the matter, while ServiceNow remains mum as well. When reached out by TechCrunch for additional information, a response was not immediately available.
The potential antitrust concerns surrounding the deal come at a time when the tech industry is increasingly under scrutiny from regulatory bodies around the world. The U.S. government has taken an increasingly active role in reviewing large-scale mergers and acquisitions, with a focus on protecting competition and ensuring fair market practices.
In related news, TechCrunch reported recently that DuckDuckGo now allows users to hide AI-generated images in search results, marking another major development in the ongoing evolution of AI technologies.
Source: techcrunch.com
