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Summary
- Cisco is all set to acquire UK-based cloud communications firm IMImobile PLC in a $730 million deal
- IMImobile team will join Cisco’s Contact Center business division as part of the deal
- After the deal, Cisco will be able to provide the best customer facing businesses with proper customer interaction management solutions and experience
US-based technology conglomerate Cisco is set to acquire UK-based cloud communications firm IMImobile PLC (LON:IMO), in which it has agreed to acquire IMImobile for 595 pence per share in cash aggregating at $730 million, which also includes debt. The deal is likely to be completed in the first quarter of 2021.
The offer, which has been recommended by the board of directors of IMImobile, is subject to various regulatory approvals, including IMImobile shareholder’s nod. As part of the deal, the IMImobile team will join Cisco’s Contact Center business division.
With this acquisition, Cisco is confident to provide the best customer facing businesses with proper customer interaction management solutions and experience. This would enable the firm to push faster and smarter communications and composition through the customer’s channel of preference.
As most people are working from home or remote locations due to the pandemic crisis, the business customers are increasingly shifting towards providing Contact Center as a Services (CCaaS). With this deal, Cisco’s Webex Contact Center solution and IMImobile’s software and services would provide an appropriate, cooperative, programmable and omnichannel solution.
Commenting on the deal, Jeetu Patel, senior vice president and general manager of Cisco’s Security and Applications business, said the company is excited to work with IMImobile in order to create an inclusive CXaaS (Customer Experience as a Service) solution for the market.
Patel added that a robust customer relationship could be established if there are regular pleasant exchanges where every feedback is an opportunity for corporations to produce deep, engaging and insightful experiences.
Also read: Covid-19 Impact: Cisco Expects Sales To Drop In The Coming Months
The cloud communication company offers software and services solutions that enable companies and businesses to stay continuously associated with their customers through improved communication channels such as social, messaging and voice.
Jay Patel, CEO of IMImobile, said the company is keen on joining world-renowned tech firm Cisco. The deal will enable the firm to provide the best solutions to the clients worldwide.
(Image Source- ©Kalkine Group 2020)
The shares of IMImobile Plc ended at GBX 593.00 per share on 7 December 2020, surging 47.33 per cent over the previous day’s close.
