Cisco Systems Inc. has agreed to buy U.K. customer service software maker IMImobile Plc in a deal valued at about 543 million pounds ($721 million) as part of a plan to enhance tools to help companies keep track of and interacting with users.
The deal, Cisco’s largest U.K. acquisition in about three years, offers IMImobile investors 595 pence per share in cash, the company said in a statement. That’s a 48% premium to the company’s Friday closing price of 402.50 pence.
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