Cisco acquires customer interaction platform provider IMImobile in $730m deal

Cisco has acquired IMImobile in the hopes of creating "faster and smarter" customer engagement solutions for enterprise clients.

Announced on Monday, Cisco says the agreement will lead to the creation of Customer Experience as a Service (CXaaS) offerings designed to "deliver consistently enjoyable and rich customer experiences."

"Together with IMImobile, Cisco will be able to provide an end-to-end customer interaction management solution, and the ability to drive faster and smarter interactions and orchestration through the customer's channel of choice," the tech giant added.

Under the terms of the deal, Cisco will pay 595 pence per share. Based on a £ - $ conversion rate of 1.3438, this amounts to a purchase price of roughly $730 million, net of cash and including debt. 

Founded in 2000, London-based IMImobile is a provider of cloud communications software, with a particular focus on Customer Interaction Management (CIM). The firm's platform includes automation, orchestration, and monitoring features for client engagement across different devices, social media channels, messaging, and voice applications. 

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IMImobile counts Best Buy, BT, Hermes, O2, and Centrica among its customers and has offices across the UK, US, India, Canada, South Africa, and UAE.

Once the deal has closed, the IMImobile team is destined to join Cisco's Contact Center department.

The company noted that the enterprise is shifting slowly toward the adoption of Contact Center as a Services (CCaaS) in response to new working from home models. By snapping up IMImobile's portfolio, Cisco hopes to integrate improved AI systems to bolster frontline employees; create new data channels for personalized interactions with customers, and deliver omnichannel means for customers to get in touch. 

"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," commented 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 is expected to close in the first quarter of 2021, subject to regulatory approval.

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