Cisco (NASDAQ: CSCO) is to acquire IMImobile PLC (AIM: IMO), a provider of cloud communications software and services that manage business-critical customer interactions at scale.
The two companies reached agreement on the terms of a recommended cash offer pursuant to which Cisco will pay 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730m assuming fully diluted shares, net of cash and including debt.
The acquisition is subject to a number of conditions, including IMImobile shareholder approval and certain regulatory approvals, and 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.
Led by Jay Patel, CEO, 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.
The company delivers its solutions to blue-chip global enterprises and public-sector organizations including AA, Best Buy, BT, Capitec Bank, Centrica, EE, Hermes, IHG, Mercedes, Orange, O2, Vodafone and Walgreens.
It is a global business with offices across the UK, USA, Canada, India, South Africa and UAE. With over 1,100 employees,
Following completion of the acquisition, Cisco will be able to offer customer-facing businesses with an end-to-end customer interaction management solution and rich customer experiences, along with the ability to drive faster and smarter interactions and orchestration throughout the lifecycle journey of the customer.
Cisco’s Webex Contact Center solution coupled with IMImobile’s software and services will offer a solution:
- Using AI along the entire customer journey to create super agents and augmented frontline employees.
- Providing the customer data needed to personalize interactions.
- Empowering employee collaboration in order to deliver 10x better customer experiences.
- Connecting with customers in their channel of choice—text, social or voice—throughout the customer journey
- Giving the business the ability to orchestrate workflows and personalize customer journeys.