Cisco to acquire IMImobile for $730m

Cisco Cisco and IMImobile have announced that they have reached an agreement which will see Cisco will pay 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730 million.

IMImobile provides communications as a service, enabling enterprises and organizations to stay constantly connected to their customers through channels including social, messaging and voice. Following completion of the acquisition, Cisco will be able to offer customer-facing businesses with an end-to-end customer interaction management solution and rich customer experiences.

As more people work remotely or from home, enterprise customers are increasingly moving towards delivering Contact Center as a Services (CCaaS). Cisco’s Webex Contact Center solution coupled with IMImobile’s software and services will offer a powerful option to enable voice and messaging as an omnichannel solution.

The news follows a flurry of M&A and investment activity in the cloud-based communications space in recent months.  In November, Infobip acquired OpenMarket for $300 million and just last week, Softbank secured a $690 million / 10% stake in cloud communications provider, Sinch.

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. 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.

Jeetu Patel, SVP, Cisco’s Security and Applications