Cisco has just announced an agreement to acquire Accompany, which uses artificial intelligence to build databases of people and relationships in businesses.
Founder and CEO Amy Chang compared the product to a digital chef or personal assistant, giving executives the context they need before conversations and meetings. Cisco plans to integrate Accompany technology into its collaboration products, for example by introducing company and individual profiles into Webex meetings.
Cisco says it will pay $ 270 million in cash and shares in the contract.
The company probably did not have to look too far to find Accompany, because Chang (who was previously responsible for the product for the measurement and reporting of Google ads) is part of the board of directors since October 2016. As part of the transaction, she resigns from the board of directors, with immediate effect.
In addition, Chang will take control of the company's technology collaboration group. Rowan Trollope, who currently leads the collaboration group, is stepping down to become CEO of the cloud software company Five9.
"Amy has proven to be an effective and innovative leader during her years as an entrepreneur, engineer and CEO, and I could not be happier to see her join the Accompany team and join Cisco." , said the president of Cisco. CEO Chuck Robbins in the ad. "Together, we have a tremendous opportunity to further enhance the AI and machine learning capabilities in our collaboration portfolio and continue to create incredible collaboration experiences for clients."
According to Crunchbase, Accompany raised approximately $ 40 million in financing from investors, including CRV, Cowboy Ventures, Iconiq Capital and Ignition Partners.
Cisco also announced today that it is selling some of its NDS video assets.