Cisco Expands Further With MindMeld Acquisition
After its acquisition of Viptela a couple of weeks ago, Cisco Systems announced most recently that it will buy MindMeld, a San Francisco startup for around $125 million which records the company’s third acquisition this month.
MindMeld which is currently staffed with twenty four people is known for developing an artificial intelligence platform that uses machine learning that enables customers to build intelligent, smart, and human-like conversational interfaces that can be used in any application or device.
The startup was founded by Tim Tuttle and Moninder Jheeta who have raised around $15 million since the company’s founding in 2014. Some of its investors included Google Ventures, Greylock Partners, Intel Capital, Samsung Ventures, and USAA among others. Tuttle and some of his team members are set to join the cloud collaboration group.
Cisco investment and M&A chief Rob Salvagno wrote about the deal in a blog stated that the company will be able to enhance their collaboration suit through MindMeld and would allow new conversational interfaces that would begin with Cisco Spark, a collaboration production.
MindMeld currently has 10 patents that will be used by Cisco to evolve its collaboration suit on example of which was Cisco’s possible use of MindMeld technology to bring artificial intelligence through their video and telephony hardware to meeting rooms.
Cisco has also announced its planned acquisition of Saggezza advanced analytics team for an unknown number.
On the other hand, the company is expected to deliver its third quarter sales on Wednesday’s market close. Investors are expecting flat numbers due to the company’s declining commercial business and increasing investment and venture in cloud computing and cybersecurity in their efforts to keep up with the market’s shifting demands.
The company which has been reporting a series of revenue declines for the past five quarters in a row has taken a step to transition into cloud computing and business in order to retain and offset the company’s declining sales.
Cisco’s stock has recently to a 16-year high after analysts from Morgan Stanley upgraded its rating on the company citing their transition and venture into more in-demand businesses, services,and products has improved the market’s outlook for the company. The optimism of the market regarding American companies benefitting from a much-promised tax policy changes from the Trump administration has also set a positive mood for the company.
Cisco’s transition to security-inclined networks as early as now also presents an opportunity for their current investors to stick with Cisco Systems instead for opting for safer tech stocks.
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