Cisco completes acquisition of Artificial Intelligence company MindMeld

SAN JOSE, CA - 05/26/17: Cisco (NASDAQ: CSCO) announced today it has completed the acquisition of MindMeld Inc., a privately held artificial intelligence (AI) company based in San Francisco. MindMeld has pioneered the development of 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 incredible accuracy to help users interact with voice and chat assistants in a more natural way.

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.

The MindMeld team joins the Cloud Collaboration group under the leadership of Jens Meggers, senior vice president and general manager, as the Cognitive Collaboration team.

Cisco acquired MindMeld for $125 million in cash and assumed equity awards.