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IMImobile snapped up by US giant Cisco for its automated customer experience tool

IMImobile joined AIM in 2014 in an IPO priced at 120p per share

IMImobile PLC -

IMImobile PLC (LON:IMO) has agreed to a US$730mln takeover by IT giant Cisco Systems Inc (NASDAQ:CSCO).

The London-based cloud communications software specialist’s board has recommended the 595p-per-share cash offer, which compares to a previous close at 402.5p.

READ: Cisco beats earnings estimates in first quarter, unveils new CFO

IMImobile, which provides software and services to businesses to connect with customers through interactive channels including social, messaging and voice, was included as a supplier on the UK government’s ‘G-Cloud 12’ framework in October, sending its shares to what had then been an all-time high of 450p.

Shares in IMImobile rose 45% to 592.05p in early trading on Monday.

Cisco said its rationale for the deal is that in a world of increasing customer expectations, where businesses also compete on the quality of the interactive experience they can offer to their customers, it has a “vision” of creating “a comprehensive customer experience as a service (CXaaS) offer for customers, offering a platform to provide consistently enjoyable customer experiences”.

In order to help businesses understand, analyse and optimise ‘customer journeys’, Cisco is looking to perfect an automated ‘experience management solution’ to analyst customer sentiment, also using natural language capabilities and artificial intelligence to power customer interactions.

Fitting into this process, it said IMImobile offers software and services that allow companies to “stay constantly connected to their customers and which will allow Cisco to progress its vision of offering a comprehensive CXaaS offering”.

Quick facts: IMImobile PLC

Price: 594 GBX

AIM:IMO
Market: AIM
Market Cap: £490.63 m
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