Cisco is set to acquire AI startup Accompany in $270mn deal

Leading multinational technology company Cisco has announced that it has agreed to acquire Accompany in a deal valued at $270mn.

Accompany offers intelligent AI-driven solutions focused on sales, enabling companies to better manage their client portfolio by finding new prospects, tracking sales histories, navigating selling processes and strengthening relationships.

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“I am thrilled with the opportunity to join Cisco and the industry's leading collaboration team,” said Amy Chang, CEO and Founder of Accompany. “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, a member of the Board of Directors at Cisco since 2016 and the former Head of Product for Google Ads Measurement, will resign from the Board at Cisco and instead take over the company’s Collaboration Technology Group.

“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.”

The acquisition is set to close in Q4 of the 2018 fiscal year.