Cisco Completes Acquisition of Accompany
11 May 2018 - 6:30AM
Cisco (NASDAQ:CSCO) announced today it has completed the
acquisition of Accompany, a privately held company based in Los
Altos, Calif. 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 $270 million 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 Accompany team joins the CTG under Chang’s
leadership.
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Forward-Looking Statements
This press release may be deemed to contain forward-looking
statements, which are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, including
statements regarding Accompany’s AI technology
and talent helping Cisco accelerate priority areas across its
collaboration portfolio, the expected benefits to Cisco and
its customers from completing the acquisition, and plans
regarding Accompany personnel. Readers are cautioned that
these forward-looking statements are only predictions and may
differ materially from actual future events or results due a
variety of factors, including, among other things, the potential
impact on the business of Accompany due to the
uncertainty about the acquisition, the retention of employees
of Accompany and the ability of Cisco to successfully
integrate Accompany and to achieve expected benefits,
business and economic conditions and growth trends in the
networking industry, customer markets and various geographic
regions, global economic conditions and uncertainties in the
geopolitical environment and other risk factors set forth in
Cisco's most recent reports on Form 10-K and Form 10-Q. Any
forward-looking statements in this release are based on limited
information currently available to Cisco, which is subject to
change, and Cisco will not necessarily update the information.
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Press
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Industry
Analyst Contact: |
Investor
Relations Contact: |
Robyn Jenkins-Blum |
Ben Culp |
Carol Villazon |
+1 408 930 8548 |
+1 949 823 3787 |
+1 408 527 6538 |
rojenkin@cisco.com |
beculp@cisco.com |
carolv@cisco.com |
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