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Artificial Intelligence

Cisco acquires Accompany for $270 million to enhance its collaboration portfolio

Cisco acquires Accompany for $270 million to enhance its collaboration portfolio

Cisco is acquiring Accompany, an AI-driven relationship intelligence platform provider, for $270 million in cash and forming a Cisco Collaboration Technology Group.

The aim of the acquisition is to leverage Accompany’s expertise in artificial intelligence and machine learning, and enhance Cisco’s priority areas across its collaboration portfolio.

Accompany’s platform helps companies in finding new prospects, navigating selling process, and strengthening the relationships. The acquisition of Accompany will help Cisco to take its collaboration portfolio to a new level and improve the  customer experiences.

Webex Teams and Webex Meetings are the top collaboration platforms of Cisco, which were recently formed by converging the Cisco Spark messaging application, and the videoconferencing platform Webex. Cisco will use Accompany’s technology for several purposes like providing user and company profile data in Webex Meetings.

Amy Chang, the Founder and CEO of Accompany, will take over as the senior vice president in charge of the new Cisco Collaboration Technology Group.

“I am thrilled with the opportunity to join Cisco and the industry’s leading collaboration team,” said Amy Chang, Accompany founder and CEO. “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.”

The team members of Accompany will join Collaboration Technology Group, which will be led by Amy Chang.

Amy has proven to be an effective and innovative leader through her years as an entrepreneur, an engineer, and CEO, and I couldn’t be more pleased to have her and the Accompany team join Cisco,” said Chuck Robbins, Cisco chairman and CEO. “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.”

Also read: Cisco’s NB-IoT Platform to make it profitable for companies to deliver IoT services via low-cost devices  

The acquisition is expected to close in Cisco’s Q4 2018.

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