Cisco to acquire UK-based software firm IMImobile for $730 million

Global networking giant Cisco on Monday announced to acquire UK-based software firm IMImobile for $730 million, with an aim to provide a seamless end-to-end customer interaction management solution.

Cisco will pay 595 pence per share in exchange for each share of IMImobile. The acquisition of IMImobile is expected to close in the first quarter of calendar year 2021.

The company said that the acquisition would 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.

"We look forward to working with IMImobile to help create a comprehensive CxaaS (Customer Experience as a Service) solution for the market-one that gives businesses a platform to provide delightful experiences across the entire customer lifecycle journey," said Jeetu Patel, senior vice president and general manager of Cisco's Security and Applications business.

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.

"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".