Cisco Completes Acquisition of Socio Labs
Cisco (NASDAQ: CSCO) has completed the acquisition of Socio Labs, Inc., enhancing its Webex portfolio with a modern event technology platform for hybrid events. This acquisition aims to provide event organizers a comprehensive tool for managing virtual, in-person, and hybrid conferences, offering features like customizable registration, actionable attendee data, and dynamic engagement strategies. Cisco's executive team emphasizes that this move aligns with their commitment to creating inclusive experiences for all attendees and reflects their strategy to adapt to evolving customer needs.
- Acquisition of Socio Labs enhances Webex offerings.
- Provides a single platform for managing hybrid events.
- Offers customizable experiences with actionable data for event organizers.
- Integration challenges may arise from the acquisition.
- Potential retention issues for Socio Labs' personnel.
SAN JOSE, Calif., July 8, 2021 /PRNewswire/ -- Cisco (NASDAQ: CSCO) today announced the completion of the acquisition of privately-held, U.S.-based Socio Labs, Inc. Socio is a modern event technology platform that manages the full lifecycle of multi-session, multi-track virtual, in-person and hybrid conferences – from registration to post-event analytics.
By adding Socio Labs to its Webex portfolio, Cisco will provide event organizers a single platform with everything they need to successfully host nearly any type of event imaginable. Benefits include the ability to create:
- Equally inclusive experiences for both in-person and virtual attendees during events of any type, size and format
- Highly customizable branded registration and ticketing experiences, dynamic ads, customized profiles and sponsor booths including gamification and lead generation components
- Actionable data about event attendees, sponsors, exhibitors and more, offering deeper insight into attendee interests
- Always-on, continuous engagement with attendees across multiple events, leveraging data about their virtual and in-person event behaviors and preferences to build personalized journeys
"Being able to offer novel, refreshing and inclusive experiences for all attendees – whether in person or virtual – is paramount in today's new era of hybrid events," said Jeetu Patel, executive vice president and general manager, Cisco Security and Collaboration. "The acquisition of Socio Labs is another example of how Cisco is rapidly addressing the evolving needs of our Webex customers and continuing to execute on our vision of providing the most seamless, inclusive, engaging and intelligent platform for meetings and events."
"Cisco shares in our commitment to creating technology that drives authentic connections and personalized experiences, which is one of the many reasons why joining forces with Cisco is great for our team and our customers," said Yarkin Sakucoglu, Socio Labs co-founder and CEO. "Together, we will be able to accelerate this mission and continue building the best event technology platform for the hybrid future of events."
The Socio Labs team joins Cisco's Collaboration Group.
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.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world's leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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 acquisition enabling the expansion of Webex offerings, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Socio Labs, Inc. personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due a variety of factors, including, among other things, the potential impact on the business of Socio Labs, Inc. due to the uncertainty about the acquisition, the retention of employees of Socio Labs, Inc. and the ability of Cisco to successfully integrate Socio Labs, Inc. and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer 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.
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SOURCE Cisco Systems, Inc.
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