Cisco is acquiring business intelligence startup Accompany for $270M

Cisco only announced an arrangement to acquire Accompany, which employs artificial intelligence to construct databases of people and relationships at companies.

Founder and CEO Amy Chang has compared the product to a digital joint chiefs of staff or personal assistant, dedicating executives the context they need before conversations and sessions. Cisco plans to incorporate Accompany technology into its collaboration products, for example by introducing company and individual profiles into Webex meetings.

Cisco tells it will pay $270 million in cash and stock in the deal.

The company likely didn’t have to search too hard to find Accompany, since Chang( who previously served as the head of product for Google’s ad measurement and reporting) has been on Cisco’s board of directors since October 2016. As part of the transaction, she’s resigning from the board, effective immediately.

In addition, Chang will be taking over the company’s Collaboration Technology Group. Rowan Trollope, who currently results the collaboration group, is departing to become CEO at cloud software company Five9.

” Amy has proven to be an effective and innovative leader through her years as an entrepreneur, an engineer, and CEO, and I couldn’t be more pleased to have her and the Accompany squad join Cisco ,” told Cisco chairman and CEO Chuck Robbins in the announcement.” Together, we have a tremendous opportunity to further enhance AI and machine learning capabilities in our collaboration portfolio and continue to create amazing collaboration experiences for customers .”

According to Crunchbase, Accompany has raised around $40 million in funding from investors including CRV, Cowboy Ventures, Iconiq Capital and Ignition Partners.

Cisco also announced today that it’s selling off some of its NDS video assets.

Make sure to visit: CapGeneration.com

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