Cisco acquires IMImobile in a $730-million cash deal

Get a free Techzine subscription!

In a cash deal, valued at around $730 million, Cisco has acquired IMImobile, a London-based cloud communications software company. The deal includes debt as well. IMImobile provides services and software for businesses that want to connect interactively with their customers using voice, messaging, and social media.

Jeetu Patel, the senior Veep and general manager at Cisco’s security and application business, says that a great customer relationship is consistently built on enjoyable interactions. In such a system, every touchpoint on every channel is an opportunity for a business to deliver a rich experience.

Businesses can be engaging and intuitive in how they deal with customers.

Pending final approval

Cisco’s Webex contact center, combined with IMImobile’s software, can offer new services. Some of the services can be super agents, driven by AI and enhanced front-line employees to clients. Such capabilities can help Cisco’s clients to create seamless workflows and offer its customers customized solutions.

IMImobile’s board has approved the terms of the deal. The expectation is that it will be completed in the calendar’s first quarter.

The acquisition has some conditions attached to it, including approval by IMImobile shareholders and regulatory clearances. However, it does not seem like those issues will prevent the deal from closing.

Cisco is doing well

Jay Patel, the CEO of IMImobile, says that the company believes there will be a world of dynamic, always-on connections that will bring customers and businesses together. With the combined Cisco and IMImobile technologies, the result will be interactions that matter more.

Last month, Cisco reported its fiscal-first-quarter earnings and sales, exceeding expectations by finance experts.

The good results prompted more analysts to raise their on-year price targets on Cisco’s stock. The company’s stock has not changed much since the announcement of the deal.

Tip: Cisco takes on Teams and Slack with Webex