Cisco is buying enterprise intelligence startup Accompany for $270M

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Cisco is acquiring business intelligence startup Accompany for $270M

Cisco simply announced an settlement to accumulate Accompany, which makes use of synthetic intelligence to construct databases of individuals and relationships at firms.

Founder and CEO Amy Chang has compared the product to a digital chief of staff or personal assistant, giving executives the context they want earlier than conversations and conferences. Cisco plans to include Accompany know-how into its collaboration merchandise, for instance by introducing firm and particular person profiles into Webex conferences.

Cisco says it is going to pay $270 million in money and inventory within the deal.

The corporate in all probability didn’t have to go looking too arduous to seek out Accompany, since Chang (who beforehand served as the top of product for Google’s advert measurement and reporting) has been on Cisco’s board of administrators since October 2016. As a part of the transaction, she’s resigning from the board, efficient instantly.

As well as, Chang can be taking up the corporate’s Collaboration Expertise Group. Rowan Trollope, who at the moment leads the collaboration group, is departing to become CEO at cloud software company Five9.

“Amy has confirmed to be an efficient and revolutionary chief via her years as an entrepreneur, an engineer, and CEO, and I couldn’t be extra happy to have her and the Accompany group be part of Cisco,” mentioned Cisco chairman and CEO Chuck Robbins within the announcement. “Collectively, now we have an incredible alternative to additional improve AI and machine studying capabilities in our collaboration portfolio and proceed to create wonderful collaboration experiences for purchasers.”

In response to Crunchbase, Accompany has raised round $40 million in funding from traders together with CRV, Cowboy Ventures, Iconiq Capital and Ignition Companions.

Cisco additionally introduced in the present day that it’s selling off some of its NDS video assets.

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