ServiceNow (NOW.US) is close to reaching a deal to acquire the artificial intelligence assistant manufacturer Moveworks.

According to sources familiar with the matter, ServiceNow (NOW.US) is on the verge of reaching a deal to acquire artificial intelligence company Moveworks, making it the largest acquisition to date for the company. Sources said that the software company is finalizing the acquisition of Moveworks, based in Mountain View, California, and the announcement of this news could come as early as in the next few days. They mentioned that the valuation of Moveworks in this acquisition could be close to $3 billion. Sources also mentioned that despite significant progress in negotiations, there is still a possibility of delay or failure. Representatives from ServiceNow declined to comment, and the spokesperson for Moveworks could not be immediately reached for comment. Moveworks was founded in 2016, providing enterprise artificial intelligence assistants to handle various requests from employees. According to its website, companies such as Unilever PLC Sponsored ADR, GitHub, and Broadcom Inc. are using its technology. Moveworks has received support from investors such as Kleiner Perkins, Lightspeed Venture Partners, and Bain Capital Ventures. In a funding round in 2021, the company was valued at $2.1 billion. Under the leadership of CEO Bill McDermott, ServiceNow's applications help organizations organize and automate their human resources and IT operations. Like many of its peers, the Santa Clara, California-based company has been integrating generative AI capabilities into its products. Prior to joining ServiceNow, McDermott served as CEO of software giant SAP, leading several high-profile acquisitions during his tenure. In the past 12 months, ServiceNow's stock price has risen by over 12%, with a market value of around $175 billion. In January of this year, the company provided sales forecasts for the fiscal year that were below market expectations, emphasizing its focus on driving the application of new generative AI products rather than achieving significant revenue growth in the short term through these tools.