Cisco Completes Acquisition of IMImobile PLC

Rhea-AI Summary

Cisco has successfully completed the acquisition of IMImobile PLC for approximately $730 million, paying 595 pence per share. This acquisition enhances Cisco's Webex Contact Center, allowing for a comprehensive Customer Experience as a Service (CXaaS) offering. IMImobile's cloud communications solutions will enable businesses to provide seamless interactions with customers across multiple digital channels, meeting rising customer expectations for better experiences.

Positive

• Acquisition price of approximately $730 million enhances Cisco's portfolio.
• Integration of IMImobile's solutions expands Webex Contact Center capabilities.
• Improves customer experience delivery across multiple digital channels.

Negative

• None.

SAN JOSE, Calif., and LONDON, Feb. 19, 2021 /PRNewswire/ -- 

News Summary:

• Cisco has completed the acquisition of IMImobile PLC.
• IMImobile brings key cloud communications software and communications platform as a service technology expanding the capabilities of Cisco Webex Contact Center to deliver a comprehensive Customer Experience as a Service (CXaaS) offer.
• The combined offering will enable businesses to deliver delightful customer experiences across the entire life cycle by incorporating cloud contact center, AI, experience management, collaboration, omnichannel communications and programmability for customization.

Cisco (NASDAQ: CSCO) today announced the completion of the acquisition of IMImobile PLC (AIM: IMO). IMImobile is a leading global provider of cloud communications software and services that manage business-critical interactions at scale. 

Businesses need to make richer connections with their customers through the channel of their choice.  Which means going beyond email, voice and chat to enable communications on the most popular digital channels like SMS, WhatsApp, Apple Business Chat, Facebook Messenger and in-app communications. Due to rising customer expectations, the quality of those interactive experiences is more important than ever before.

IMImobile orchestrates, automates, monitors and delivers the customer interactions that drive the best experiences. By combining IMImobile's solution with Webex Contact Center, Cisco will be able to provide a robust Customer Experience as a Service (CXaaS) offer. This new offering will bring together cloud contact center, artificial intelligence, experience management, collaboration and Communications Platform as-a-Service to create a single solution that will give organizations the ability to provide the exceptional experiences that customers expect. 

"Customer expectations are rising, proving every interaction matters for the brand and the end-user experience. Customers want delightful experiences where they can have two-way interactions with a business exactly when they need to, on the channel they prefer, without having to wait or jump through hoops to prove who they are, and without having to repeat themselves. With the right technology, world class brands can and must provide this level of easy and effortless interaction. The addition of IMImobile to Cisco will be integral to delivering on the promise of delightful and engaging customer experiences," said Jeetu Patel, senior vice president and general manager of Cisco's Security and Application business. "I'm incredibly excited to welcome the talented IMImobile team to Cisco."

"We are excited about joining one of the world's leading technology companies to help create richer and smarter interactions between businesses and their customers," said Jay Patel, IMImobile CEO. "In an increasingly digital world, we will build the most comprehensive platform to orchestrate connected customer journeys. I am looking forward to working with the Cisco team to make this happen."

As previously announced on December 7, 2020, Cisco is paying 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730 million assuming fully diluted shares, net of cash and including debt as publicly reported, and based on the prevailing exchange rate at that time.

The IMImobile team joins Cisco's Contact Center business unit.

Additional Resources

• Read the blog from Omar Tawakol, vice president of Cisco Contact Center
• Read the Cisco intent to acquire IMImobile news release

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter at @Cisco.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.Cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

Forward-Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to Cisco and its customers of completing the acquisition and plans regarding IMImobile's offerings. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of IMImobile due to the uncertainty about the acquisition, the retention of employees of IMImobile and the ability of Cisco to successfully integrate IMImobile and to achieve expected benefits, business and economic conditions and growth trends in relevant markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment, and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.

Cisco
Press Contact: 
Robyn Blum   
+1 408 930 8548    
rojenkin@Cisco.com

Investor Relations Contact:
Carol Villazon
+1 408 527 6538
carolv@cisco.com

Analyst Relations Contact:
Anne Blomquist
+1 408 859-1111 
ablomqui@cisco.com

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SOURCE Cisco Systems, Inc.

FAQ

What is the significance of Cisco's acquisition of IMImobile PLC?

The acquisition enhances Cisco's capabilities in providing a comprehensive Customer Experience as a Service (CXaaS) through the integration of IMImobile's cloud communications solutions.

How much did Cisco pay for IMImobile PLC?

Cisco paid approximately $730 million, which equates to 595 pence per share for IMImobile PLC.

When was the acquisition of IMImobile completed?

The acquisition of IMImobile PLC was completed on February 19, 2021.

What impact will the acquisition have on Cisco's Webex services?

The acquisition is expected to significantly enhance Cisco Webex Contact Center by incorporating advanced cloud communications technologies, improving customer interactions and experiences.

What technologies does IMImobile bring to Cisco?

IMImobile offers cloud communications software and services that manage business-critical interactions, enabling multichannel customer engagement and automation.