Cisco acquires Accompany for $270 million

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Cisco, a world leader in offering networking and IT services has agreed to acquire business intelligence firm named ‘Accompany’ for $270 million in cash and stock. The networking giant said that the deal will get completed by the 3Q of this year and the staff of the ‘Accompany’ will get onto the rolls of Cisco from then on.

California based ‘Accompany’ uses artificial intelligence to build databases of people and relationships at many companies. It actually acts as a personal virtual assistant who gives the executives the context they need to speak before conversations and meetings.

Amy Chang, the founder, and CEO of Accompany will be resigning to her post to join Collaboration Group of Cisco early next month.

Rowan Trollope, who leads the Collaboration Group on a current note, will depart to become the CEO of Five9- a cloud software company.

Note- As per the data available from Crunchbase, Accompany has raised a $40 million funding from investors such as CRV, Cowboy Ventures, Iconiq Capital and Ignition Partners. The company basically offers comprehensive and real-time profiles which can be used for sales and marketing purposes.

Accompany’s AI-driven database is said to provide relevant insights for millions of people and companies so that CEOs and their teams can find the right people to build stronger business relationships.

Cisco is planning to introduce the Accompany’s AI propelled software traits into the Webex meetings in near future.

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Naveen Goud is a writer at Cyber Security Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security