Cisco gobbles AI biz MindMeld for $125m
Platforms, platforms, platforms, powering workplace of future, yada, yada
Cisco is the latest member of the tech old guard to jump on to the artificial intelligence bandwagon by slurping MindMeld for $125m (£97m).
The San Francisco-based startup claims to have developed an AI platform that lets customers build human-like conversational interfaces for any application or device via its proprietary machine learning tech.
"The workplace of the future is one powered by AI," Rowan Trollope, senior vice president, Cisco IoT and Applications Group, said in a canned statement.
"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."
The acquisition is expected to close in Cisco's fourth quarter of fiscal year 2017, following customary closing conditions and regulatory review.
It is the second buy Switchzilla has made this year; Cisco hoovered up software-defined WAN startup Viptela for $610m (£473m) in May, and paid $3.7bn for cloudy application biz AppDynamics in January. ®