Cisco Acquires IMImobile to Offer Customer Experience as a Service
American multinational technology conglomerate Cisco announces that the company has reached an agreement to acquire IMImobile, a software solutions provider. As a part of the deal, Cisco will pay 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730 million assuming fully diluted shares, net of cash and including debt. The exchange rate used for the conversion of £ into USD is 1.3438.
In a statement issued by Cisco, Jeetu Patel, SVP & GM – Security & Applications Business, Cisco, said, “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. 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.”
Commenting on the occasion, Jay Patel, CEO, IMImobile, said, “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 to us make every interaction matter more for our clients.”
IMImobile is known for developing software and services that enable enterprises and organizations to stay constantly connected to their customers through enhanced interactive channels including social, messaging and voice