Cisco Completes Acquisition of Accompany

SAN JOSE, Calif., May 10, 2018 (GLOBE NEWSWIRE) -- 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.