Cisco is looking to acquire MindMeld, a privately held artificial intelligence (AI) company based in San Francisco. MindMeld has developed an 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 helps users interact with voice and chat assistants in a more natural way.
Cisco is using AI in a number of areas – for example, enabling customers to self-manage their network and data center, stay ahead of security attacks, embed intelligence at the edge, and deliver predictive analytics.
“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.”
Cisco will acquire MindMeld for $125 million in cash and assumed equity awards. The acquisition is expected to close in Cisco’s fourth quarter of fiscal year 2017, following customary closing conditions and regulatory review.