Cisco and IMImobile PLC have reached agreement on the terms of a recommended cash offer pursuant to which Cisco will pay 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730 million assuming fully diluted shares, net of cash and including debt.
IMImobile provides software and services which allow enterprises and organizations to stay constantly connected to their customers through interactive channels including social, messaging and voice.
Following completion of the acquisition, Cisco will be able to offer customer-facing businesses with an end-to-end customer interaction management solution, along with the ability to drive interactions and orchestration throughout the lifecycle journey of the customer.
Cisco’s offer has been recommended by IMImobile’s board of directors. The acquisition is subject to a number of conditions as set forth in the announcement released, including its shareholder approval and certain regulatory approvals.
The acquisition is expected to close in the first quarter of calendar year 2021. Upon completion of the transaction, the IMImobile team will join Cisco’s Contact Center business unit, led by Omar Tawakol, vice president and general manager, Cisco Contact Center, part of the Cisco Collaboration business.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.