Cisco to acquire IMImobile for $730m

Cisco to acquire IMImobile for $730m

14 December 2020 | Natalie Bannerman

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Cisco has entered an agreement to acquire cloud communications software and services provider IMImobile, for approximately $730 million.

The cash offer is based on a price of 595 pence for each share of IMImobile, including debt. Specifically, IMImobile offers software and services which allow enterprises and organisations to stay constantly connected to their customers through enhanced interactive channels including social, messaging and voice.

Once the deal has completed in Q1 of 2021, Cisco will be able to offer customer-facing businesses with an end-to-end customer interaction management solution and rich customer experiences.

“A great customer relationship is built on consistently enjoyable interactions where every touchpoint on every channel is an opportunity for businesses to deliver rich, engaging and intuitive experiences,” said Jeetu Patel, senior vice president and general manager of Cisco’s security and applications business.

“We look forward to working with IMImobile to help create a comprehensive CXaaS solution for the market—one that gives businesses a platform to provide delightful experiences across the entire customer lifecycle journey.”

In addition, once the transaction has been finalised the IMImobile team will join Cisco’s Contact Center business unit, under the managenent Omar Tawakol, vice president and general manager of Cisco Contact Center, part of the cisco collaboration business.

“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,” said Jay Patel, CEO at IMImobile.

“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 to us make every interaction matter more for our clients.”

Cisco’s offer has been recommended by IMImobile’s board of directors and is subject to a number of conditions including IMImobile shareholder approval and regulatory approvals.