Cisco Plans to Acquire Business Intelligence Startup

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According to the latest startup news, Accompany a business intelligence startup may be acquired by Cisco sooner than later for $270 million in cash. On 1st May 2018, Tuesday Cisco made a statement making their intention of acquiring privately help Accompany very clear.

Accompany is an Artificial Intelligence startup that helps business users find new prospects, navigate the selling journey, and strengthen customer relationships with the help of their AI-driven relationship intelligence platform. This acquisition is expected to close in Cisco’s fourth quarter of the fiscal year 2018 (which ends at the close of July).

According to the latest startup news, Cisco Planning to Acquire Accompany

Cisco has currently agreed to pay $270 million in cash and stock in the deal. Cisco will also be taking over the company’s Collaboration Technology Group. Following this acquisition, Cisco will incorporate Accompany’s platform along with their AI technology and talent in order to accelerate all the priority areas.

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Amy Chang who is the founder and director of Accompany will be joining the Cisco ranks to become the SVP of Cisco’s Collaboration Technology Group. The CEO and Cisco Chairman Chuck Roberts said: “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.” He further added, “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.”

Following this acquisition, the Accompany team will be joining the Cisco Collaboration Technology Group under Chang’s leadership. Together, Cisco and Accompany will work towards powering the future of work in a smarter way in order to enhance customer experiences.

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