Networking giant Cisco has acquired IMImobile. It is a London-based software company. Cisco purchased the 20 years old firm for USD 730 million. The American networking hardware company said that the deal will provide a smooth and continuous interaction management solution to customers. It will add the ability to Cisco to drive faster and smarter interactions through the channel of the customer’s choice. Under the deal, the company said that it will pay 595 pence per share to IMImobile in place of each share. The deal includes debt. The acquisition process has begun with the two companies signing the requisite papers. It is expected that the deal will be closed officially in the first quarter of 2021.
Cisco in a statement said that it is looking forward to working with the software firm to provide delightful experiences to the customers. IMImobile provides software and services to let companies stay connected with their customers. It offers enhanced interactive channels. This includes social, messaging, and voice channels. IMImobile CEO Jay Patel said that the management is excited to join Cisco to enable great customer experiences. The company will join the contact center business unit of Cisco. Cisco is one leading technology companies in the world. It has over 274 offices in 96 different locations. The deal comes at a time when Cisco is looking to add more networking software and services.
IMImobile was founded in 2000. It provides cloud communications software. It focuses on Customer Interaction Management. It includes features for client engagement. The company will create new data channels for Cisco to provide personalized interactions. The company said that it will offer a solution that is intelligent, contextual, and programmable. The timing of the deal is significant as more people are shifting to work from home culture due to the pandemic. The remote work culture has forced companies to shift to the contact center as a service. CCaaS is nothing but a model for software deployment. It is used to cut the costs of information technology, integration, and support by the companies.