Cisco (NASDAQ: CSCO) is to acquire Socio Labs, an Indianapolis, Indiana-based modern event technology platform for event organizers to host in-person, virtual or hybrid events of any size and format.
The amount of the deal was not disclosed.
With the acquisition, Cisco will enhance Webex Events beyond meetings, webinars and webcasts to also include large-scale, multi-session hybrid events and conferences.
The solution will enable live streaming, sponsorship, networking and advanced analytics, along with continuous engagement before, during and after events – as well as Webex features like polling, Q&A, chat and real-time translation.
The deal complements Cisco’s recent acquisition of Slido, an audience engagement tool, which together will create an event management solution that spans event capabilities — all through a single portal:
- Webex’s virtual meeting innovations like background noise removal and speech enhancement, gesture recognition, immersive share, real-time translation, customized stage layouts and more;
- Slido’s audience engagement capabilities such as polling, trivia, Q&A and gamification, which make virtual meetings and events more interactive and effective; and
- Socio Labs’ hybrid event technology platform that manages the full lifecycle of large-scale virtual, in-person and hybrid events – from registration to post-event analytics.
The acquisition is expected to close in Cisco’s Q4 fiscal year 2021. Subject to customary closing conditions and required regulatory approvals.
Upon completion of the acquisition, the Socio Labs team – led by Yarkin Sakucoglu, co-founder and CEO – will join the Webex Customer Experience team led by Omar Tawakol, vice president and general manager, reporting into the Security & Collaboration Group led by Jeetu Patel, senior vice president and general manager.
FinSMEs
15/05/2021