This will strengthen the company’s new conversational interfaces for collaboration suite
Cisco has announced that it will acquire San Francisco based artificial intelligence firm MindMeld for $125 million. The transaction will be done in cash as well as equity and is expected to be closed by fourth quarter of the current fiscal.
MindMeld has developed a unique AI platform that enables customers to build intelligent and human-like conversational interfaces for any application or device. Through its proprietary machine learning (ML) technology, MindMeld delivers accuracy to help users interact with voice and chat assistants in a more natural way.
“The workplace of the future is one powered by AI,” said Rowan Trollope, senior vice president, Cisco IoT and Applications Group. “This is a significant step toward making that workplace a reality. Integrating MindMeld into the Cisco Spark platform will transform how users interact in Cisco Spark Spaces, Cisco Spark Meetings, and Cisco Spark Care.”
With ten patent assets to its name, MindMeld brings industry-coveted AI, software and engineering talent and expertise to further the evolution of Cisco’s collaboration suite. The MindMeld team will join the Cloud Collaboration group under the leadership of Jens Meggers, senior vice president and general manager, as the Cognitive Collaboration team.
Cisco has been using artificial intelligence (AI) and machine learning (ML) technology in various of its product portfolio including Stealthwatch, Cisco Spark Board, and Cisco Spark Room Kit and features like SpeakerTrack and VoiceTrack across our video portfolio.
As chat and voice quickly become the interfaces of choice, MindMeld’s AI technology will enable Cisco to deliver unique experiences throughout its portfolio, starting with collaboration. This acquisition will power new conversational interfaces for Cisco’s collaboration products, revolutionizing how users will interact with our technology, increasing ease of use, and enabling new cognitive capabilities. For example, users will be able to interact with Cisco Spark via natural language commands, providing an experience that is highly customized to the user and their work. Together, Cisco and MindMeld can bring voice AI to meeting rooms throughout the world, where Cisco’s near-ubiquitous presence of video and telephony hardware will help increase adoption of AI technology across the workplace.