Cisco Closes USD 270m Acquisition of Relationship Intelligence Platform Operator Accompany.

M2 EQUITYBITES-May 17, 2018-Cisco Closes USD 270m Acquisition of Relationship Intelligence Platform Operator Accompany

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17 May 2018 - US-based technology company Cisco (NASDAQ: CSCO) has closed the acquisition of US-based relationship intelligence platform Accompany, the company said.

Accompany provides an AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships.

Company founder and CEO Amy Chang will join Cisco as senior vice president in charge of the Collaboration Technology Group.

Cisco said the acquisition of Accompany 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.

Cisco will acquire Accompany for USD 270m in cash and assumed equity awards. 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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