Cisco Systems Inc. is planning to buy the UK customer service software maker IMImobile Plc at 543 million pounds (USD 721 million). The objective is to enhance tools to help companies keep track of users and engage with them. On record, IMImobile shares rose to the apex.
In a statement, the company mentioned that it is Cisco’s largest acquisition in about three years. Also, it offered IMImobile investors 595 pence per share in cash. That’s a 48% premium to the company’s Friday closing price of 402.50 pence.
The company is moving ahead and trying to bridge the gap between customers and end-users with automation. Cisco is trying to optimize their pitches and services more effectively. Additionally, it will add the same set of capabilities to its customer-relationship management offerings.
With the acquisition, the company’s Chief Executive Officer Chuck Robbins is looking forward to recast the company—with the most substantial hardware functions—as a networking software and services provider. These new steps align with the industry-wide shift that has seen more of the functions traditionally provided by in-house hardware migrating to outsourcing provided by remote data centers.
The deal benefits IMImobile in a certain way too. The company sees it as an opportunity to use AI-based software to automate the outreach process than what is currently possible. For example, it will help customers extend their offerings into the preferred approach, such as via text messages, social media, and a voice call.
It will also provide the company representative with contextual information about the customer they’re dealing with to ensure that the conversation walks the way 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 press release.
This customer service software acquisition is just another example of how technology companies seek to strengthen their AI capabilities.
