May 3, 2018

Cisco to acquire AI firm Accompany for USD 270M

The acquisition seeks to accelerate their collaboration portfolio and strengthen business and intra-organization relations.

Tech giants

Tech giant Cisco are all set to acquire AI (Artificial Intelligence) based firm Accompany for USD 270M. With this part-cash and part-equity deal, Cisco aims to fortify business collaborations and relations by pinpointing priority areas, finding new prospects and navigating the selling process.

According to Cisco, AI is the future when it comes to tools and devices that facilitate collaboration. They also say that there is tremendous scope to develop machine learning and AI-based tools to further collaboration capabilities.

By acquiring Accompany, Cisco believe that they will be a step closer to achieve their goal of providing user as well as company profile data by leveraging AI. They also believe that this acquisition will ease the process collaboration within organizations.

Delighted with the acquisition, Chuck Robbins, Cisco Chairman and CEO, commented:

I couldn’t be more pleased to have the Accompany team join Cisco. Together, we have a tremendous opportunity to further enhance AI and machine learning capabilities in our collaboration portfolio and continue to create amazing collaboration experiences for customers.

Accompany say that the acquisition will pave the way for smarter ways to collaborate with employees, partners and organizations. Speaking about the acquisition in detail, Amy Chang, Accompany Founder and CEO, commented:

I am thrilled with the opportunity to join Cisco and the industry’s leading collaboration team. Enterprise applications are rapidly becoming more intelligent and augmented with data and pertinent information in real-time.

By combining Accompany’s relationship intelligence capability with Cisco’s award-winning collaboration product portfolio, customers will be able to more intelligently collaborate with employees, customers and partners.