Cisco Systems Inc has said it plans to buy IMImobile PLC for about US$750 million to add artificial intelligence (AI) software used to help companies manage customer relationships.
The US maker of networking gear is to pay ￡5.95 a share for the UK provider of cloud communications software.
The cash offer, which includes debt, is expected to close in the first quarter, Cisco said in a statement.
Photo: AP
Cisco chief executive officer Chuck Robbins is seeking to recast the company — whose hardware is the backbone of the Internet — as a networking software and services provider. He is responding to an industry-wide shift that has seen more of the functions traditionally provided by in-house hardware migrate to outsourcing offered by remote data centers.
Cisco is seeking to push further into automation to improve the way its customers reach out to their end-users, enabling them to make their pitches and services more effective.
It also wants to add those capabilities to its customer-relationship management offerings.
With IMImobile, it sees an opportunity to use AI software to automate the outreach process more effectively than is currently possible.
For example, it would help customers channel their offerings into the approach that they prefer, such as through text messages, social media or a voice call.
Another instance would be to provide a company representative with more contextual information about the customer they are dealing with to make sure that they tailor that interaction in a way that the customer wants.
“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,” Cisco senior vice president Jeetu Patel said in the statement.
The acquisition adds to a growing list of deals as technology companies seek to strengthen their AI capabilities.
A week ago, ServiceNow Inc said that it would buy Canadian start-up Element AI Inc, marking the software maker’s fourth AI-related acquisition this year.
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