The American multinational technology conglomerate, Cisco, has announced its intention to acquire IMImobile, a provider of cloud communications software and services that manages business-critical interoperability on a large scale. The deal is valued at nearly $730 million, assuming full dilution of the shares, net of cash and debt.
The acquisition will be Cisco’s largest in the UK in about three years. The company will pay IMImobile shareholders £5.95 per share and the acquisition of the software vendor is expected to be completed in the first quarter of 2021, following regulatory approval.
The American company said the procurement will provide its consumers with an end-to-end customer interaction management solution and the ability to promote quicker and much improved communications and interactions through a selected customer channel.
Cisco’s Webex Contact Center solution, along with IMImobile software and services, will offer a solution that leverages artificial intelligence throughout the customer’s journey, provides the customer data needed to personalize communications, enables employee collaboration, and allows companies to organize their workflows.
Jeetu Patel, senior vice president and general manager of Cisco’s Security and Applications business commented: “We look forward to working with IMImobile to help create a comprehensive CxaaS (Customer Experience as a Service) solution for the market-one that gives businesses a platform to provide delightful experiences across the entire customer lifecycle journey.”
“We are excited to join Cisco and become part of one of the world’s leading technology companies as they seek to enable great customer experiences. We believe there will be a world of dynamic, always-on connections between global businesses and their customers and the combination of our respective technologies will enable us to make every interaction matter more for our clients,” expressed Jay Patel, IMImobile CEO.