Cisco (NASDAQ: CSCO) announced the completion of the acquisition of IMImobile PLC (AIM: IMO), 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. This 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.
By combining IMImobile's solution with Webex Contact Center, Cisco can 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.
Commenting on the closing of the deal, Jeetu Patel, senior vice president and general manager of Cisco's Security and Application business said,"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. I'm incredibly excited to welcome the talented IMImobile team to Cisco."
Meanwhile, Jay Patel, IMImobile CEO said, "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," "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.