Cisco completes acquisition of Accompany
The merger will enable Cisco to take collaboration to the next level with even more intelligence
Tech giant Cisco has completed the acquisition of Accompany, a privately held company based in the US.
The company provides an AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships.
Accompany's AI technology and talent will help Cisco accelerate priority areas across its collaboration portfolio.
Cisco acquired Accompany for $270m in cash and assumed equity awards. Accompany founder and CEO Amy Chang has been named senior vice president in charge of Cisco's Collaboration Technology Group (CTG), the company said.The Accompany team joins the CTG under Chang's leadership.
The acquisition of Accompany will enable Cisco to take collaboration to the next level with even more intelligence. Together, Cisco and Accompany will continue to power the future of work in a smarter way to enhance customer experiences.
"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."
"I am thrilled with the opportunity to join Cisco and the industry's leading collaboration team," said Chang. "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."
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.