Cisco Spends $270 Million to Acquire AI Accompany

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According to media reports, Cisco plans to acquire Accompany for $270 million, a privately held company that provides AI tools. By then, Accompany CEO Amy Chang will serve as senior vice president of Cisco Collaboration Technology.

According to Cisco, Accompany provides a good platform for finding new potential customers, promoting sales, and strengthening relationships. At the same time, Cisco plans to embed Accompany's technology in its collaboration portfolio, such as providing users and company analytics data in Webex meetings. SP506CF

The acquisition is similar to another larger transaction in the near future - Microsoft plans to spend $26.2 billion to acquire LinkedIn. At that time, Microsoft stated that it plans to embed personal information into its collaboration products through LinkedIn technology.

Accompany raised approximately US$41 million in funds through investors. The most recent round was conducted in 2015; the company is valued at approximately US$200 million. BTW58-1500R

Given recent acquisitions and divestiture, Cisco has moved a lot. Cisco recently stated that it plans to sell its Service Provider Video Software Solution (SPVSS) business, which was actually sold to Permira in 2012 for a $5 billion NDS acquisition. Permira is also the same equity company that sold NDS to Cisco six years ago.