Cisco to acquire business intelligence startup Accompany for $270M

On Tuesday, Cisco announced it will acquire acquireLos Altos based Accompany, an artificial intelligence startup that build databases of people and relationships at companies.

Accompany Founder and CEO Amy Chang will join Cisco as senior vice president in charge of the Collaboration Technology Group.

“I am thrilled with the opportunity to join Cisco and the industry’s leading collaboration team,” said Chang. “Enterprise applications are rapidly becoming more intelligent and augmented with data and pertinent information in real-time. By combining Accompany’s relationship intelligence capability with Cisco’s award-winning collaboration product portfolio, customers will be able to more intelligently collaborate with employees, customers and partners.”

Rowan Trollope, current senior vice president and general manager of the Collaboration Technology Group is taking the next step in his career and leaving Cisco to become CEO at another company effective May 3.

Chang, who has served as a member of Cisco’s Board of Directors since October 2016, has in conjunction with the transaction resigned from the Cisco Board of Directors effective immediately.

Cisco will acquire Accompany for $270 million in cash and assumed equity awards. The Accompany team will join the Cisco Collaboration Technology Group under Chang’s leadership. The acquisition is expected to close in Cisco’s fourth quarter of fiscal year 2018, following customary closing conditions.

The acquisition of Accompany will enable Cisco to take collaboration to the next level with even more intelligence. Accompany’s AI technology and talent will help Cisco accelerate priority areas across its collaboration portfolio, such as providing user and company profile data in Webex meetings. Together, Cisco and Accompany will continue to power the future of work in a smarter way to enhance customer experiences.

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