- GeneralM&A
- December 7, 2020
- 4 minutes read
Cisco Buys UK’s IMImobile
The networking giant Cisco has announced that it’s reached a deal to acquire the London-based cloud communications company IMImobile for a price…
The networking giant Cisco has announced that it’s reached a deal to acquire the London-based cloud communications company IMImobile for a price of $730 million, whereby Cisco is paying 595 pence per share for all the outstanding shares of the publicly-traded IMImobile.
The acquisition is expected to be completed in the first quarter of next year. It marks Cisco’s seventh acquisition and its second-biggest this year, only beaten by the company’s $1 billion purchase of the cybersecurity startup ThousandEyes in May.
With IMImobile, Cisco is getting a cloud communications company with over 1,100 employees spread across the UK, USA, Canada, India, South Africa and UAE. IMImobile is traded on the London Stock Exchange, having held its IPO in 2014. The company was founded back in 2000.
Basically, IMImobile is a cloud-based communications platform used by enterprises to handle communication with their customers. It’s similar to other companies like the US-based Twilio and Amsterdam-based MessageBird, which recently landed a $200 million round.
Upon completion of its acquisition, IMImobile will be housed under Cisco’s “Contact Center” business division, led by Vice President Omar Tawakol. IMImobile’s leadership team will retain their roles but will now report to Tawakol, it’s implied.
Photo: Cisco CEO Chuck Robbins by World Economic Forum is licensed under CC BY-NC-SA 2.0
