- Cisco recently announced it was planning to buy Voicea. These are the details behind the deal.
Cisco recently announced it was planning to buy Voicea. With this deal, Cisco is emphasizing its continuous commitment to making Webex the collaboration platform-of-choice for the best employee experience.
Voicea is known as the creator of a market-leading real-time solution that provides meeting transcription, voice search, and meeting highlights/action items with robust data privacy. And it helps teams have more productive and actionable meetings by turning talk into action.
With Voicea technology, Cisco will enhance its Webex portfolio of products with a powerful transcription service that blends AI and Automated Speech Recognition (ASR) to unlock the power of any collaboration such as meetings and calls. Attendees and non-attendees can quickly gather the most relevant information from these digital notes and insights turning a block of text into actionable information.
Under the Webex portfolio, the first focus is to use Voicea to turn a simple meeting into a treasure trove of digital meeting notes and insights with robust data privacy.
This acquisition also builds upon Cisco’s vision of Cognitive Collaboration, interoperability, and workplace transformation through combining the power of artificial intelligence, machine learning, software, hardware, and the network to remove friction and get work done faster and smarter. And the acquisition is expected to close in the first quarter of Cisco’s fiscal year 2020 subject to customary closing conditions and required regulatory approvals.
Upon the closing of the deal, the Voicea team will join the Webex portfolio team led by Senior Vice President and General Manager Sri Srinivasan.
Cisco also pointed out a few important milestones including that its collaboration customers include 95% of the Fortune 500, more than 130 million people use Webex every month, and more than 360 million meetings happen on Webex each year.
“Voicea’s true market-leading technology will be a game-changer for our Webex customers to experience more productive and actionable meetings”, said Cisco Collaboration SVP and GM Amy Chang. “The acquisition of Voicea allows us to leap past basic transcription services and instead, continue delivering on our vision of AI-driven, Cognitive Collaboration across our entire portfolio.”