Cisco To Acquire AI Firm Accompany For $270 Million

Cisco is acquiring Accompany, a California based AI driven firm, for $270 million. The firm offers AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships.

The acquired firm will be integrated in to Cisco collaboration platform and the founder and CEO of Accompany – Amy Chang – will join Cisco as senior vice president in charge of the Collaboration Technology Group, the networking major said in a statement.

“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.”

According to Cisco, the acquisition will enable it to take collaboration to the next level with even more intelligence. Accompany’s AI technology and talent will help Cisco accelerate priority areas across its collaboration portfolio, such as providing user and company profile data in Webex meetings.

“Together, Cisco and Accompany will continue to power the future of work in a smarter way to enhance customer experiences,” Cisco said.

“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.”

Rowan Trollope, current senior vice president and general manager of the Collaboration Technology Group is taking the next step in his career and leaving Cisco to become CEO at another company effective May 3.

Chang, who has served as a member of Cisco’s Board of Directors since October 2016, has in conjunction with the transaction resigned from the Cisco Board of Directors effective immediately.

The Accompany team will join the Cisco Collaboration Technology Group under Chang’s leadership. The acquisition is expected to close in Cisco’s fourth quarter of fiscal year 2018, following customary closing conditions.

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