US tech giant Cisco has agreed to buy London-based cloud communications software company IMImobile, in a deal valued at around $730m (£552m).
The American multinational tech firm will pay 595 pence per share in exchange for each share of IMImobile, assuming fully diluted shares, net of cash and including debt.
Listed London firm IMImobile provides software and services which allow enterprises and organizations to stay constantly connected to their customers through enhanced interactive channels including social, messaging, and voice.
Its customers include BT, Hermes and O2.
Following completion of the acquisition, Cisco plans to offer customer-facing businesses with ‘customer interaction management solutions’. Its Webex Contact Center solution will be coupled with IMImobile’s software and services.
“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.”
“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, IMImobile CEO.
“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.”
The acquisition of IMImobile is expected to close in the first quarter of calendar year 2021.
Upon completion of the transaction, the IMImobile team will join Cisco’s Contact Center business unit, led by Omar Tawakol, vice president and general manager, Cisco Contact Center, part of the Cisco Collaboration business.