Cisco to acquire UK firm for $730m

IMImobile's platform enables enterprise to engage with customers over social, messaging and voice platforms

Cisco is set to acquire UK-based cloud communications firm IMImobile $730m.

IMImobile provides a suite of products that enables customers to communicate with customers via social media, messaging and voice channels.

Jeetu Patel, SVP or Cisco's security and applications business, said: "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.

"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."

Cisco said it will integrate IMImobile into its customer-experience-as-a-service.

The vendor's offer of 595 pence per share is over 40 per cent up on IMImobile's share price on Friday.

IMImobile CEO Jay Patel said: "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.

"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."

IMImobile lists companies including BT, Barclays, Best Buy and Vodafone has customers on its website.

Cisco said it expects the acquisition, which is still subject to shareholder and regulatory approval, to close in Q1 of its 2021 financial year.