- Cisco (NASDAQ: CSCO) and IMImobile PLC (AIM: IMO) recently announced that they have reached an agreement where Cisco will buy IMImobile for about $730 million
Cisco (NASDAQ: CSCO) and IMImobile PLC (AIM: IMO) recently announced that they have reached an agreement on the terms of a recommended cash offer pursuant to which Cisco will pay 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). And the exchange rate used for the conversion of £ into USD is 1.3438, derived from Bloomberg as at 4 PM on December 4, 2020.
IMImobile is known for providing software and services which allow enterprises and organizations to stay constantly connected to their customers through enhanced interactive channels, including social, messaging, and voice. And following the completion of the acquisition, Cisco will be able to offer customer-facing businesses with an end-to-end customer interaction management solution and better customer experiences along with the ability to drive faster and smarter interactions and orchestration throughout the lifecycle journey of the customer.
As more people work remotely or from home, enterprise customers are increasingly moving towards delivering Contact Center as a Services (CCaaS). And Cisco’s Webex Contact Center solution coupled with IMImobile’s software and services will offer a solution that is intelligent (using AI along the customer journey to create super agents); contextual (provides personalized customer data); collaborative (empowers employee collaboration); omnichannel (connects customers in their preferred channel like text, social, or voice); and programmable (gives the business the ability to orchestrate workflows and personalize customer journeys).
The acquisition of IMImobile is expected to close in Q1 2021. And upon completion of the transaction, the IMImobile team will join Cisco’s Contact Center business unit led by Omar Tawakol, vice president and general manager, Cisco Contact Center (part of the Cisco Collaboration business).
KEY QUOTES:
“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.”
— Jeetu Patel, senior vice president and general manager of Cisco’s Security and Applications business
“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.”
— Jay Patel, IMImobile CEO
