Cisco plans to buy cloud communications software Company IMImobile

Cisco is set to shell out approximately $730 million to acquire cloud communications software and service company IMImobile. With this move Cisco will provide its business customers with an end-to-end customer interaction management solution.

IMImobile’s software and services allow enterprises and organizations to stay constantly connected to their customers through enhanced interactive channels including social, messaging and voice, providing, among other things, a rich customer experience.

The plan is to couple IMImobile’s software and services with Cisco’s Webex Contact Center solution, a tool that has become increasingly popular and critical as people continue to work remotely as a result of the ongoing COVID-19 pandemic. Similarly, the pandemic has sparked more interest in the delivery of Contact Center as a Services (CCaaS).

Cisco throughout 2020 has kept COVID-19 and its impact on businesses on a priority basis for, evident in the Business Resiliency Program it offered in April that included $2.5 billion in financing to provide organizations with access to the solutions they need to keep their businesses running and productive during the challenging times.

“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,” said Jeetu Patel, senior vice president and general manager of Cisco’s Security and Applications business. “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.”

“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,” said Jay Patel, IMImobile CEO. “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.”

The acquisition is expected to close in the first quarter of 2021, assuming the conditions set forth by the UK Takeover Code are met, which include IMImobile shareholder approval and certain regulatory approvals.