The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!
Cisco today announced plans to acquire AI startup MindMeld for $125 million.
MindMeld can create AI-powered conversational interfaces. MindMeld tech and its 10 patents surrounding AI and deep learning will be used to improve Cisco Spark and other Cisco collaboration products.
The MindMeld platform for the creation of bots and voice-powered assistants launched last fall. The MindMeld API is currently being used by more than 1,200 companies around the world. Customers and investors include Google, Samsung, Intel, Telefonica, Liberty Global, IDG, USAA, Uniqlo, Spotify, and In-Q-Tel, a CIA investment fund.
Learn how developers and brand marketers are using AI to grow their businesses, at MB 2017 in July 11-12 in SF. We cut through the hype to show how marketers are achieving real ROI. Get your 50% off Early Bird ticket by May 19!
Cisco decided to acquire MindMeld, a company that’s been called “Siri on steroids,” because many bot experiences today are disappointing, IoT and applications VP Rowan Trollope wrote in a blog post today.
“The rise of messaging apps, and the conversational bots which have followed, have given us a tremendous number of bots which are impressively bad at natural language conversation. They do OK with canned responses, but try to have a semi-unstructured conversation to get them to do something and the experience tends to be poor, frustrating and decidedly non-human,” he wrote. “Bringing the MindMeld team to Cisco is a giant leap forward in helping our customers experience the next generation of interactive, conversational interfaces.”
Cisco collaboration software competition includes other enterprise chat players including Microsoft Teams, Google Hangouts Chat, and Slack. The $125 million acquisition in cash and assumed equity awards is expected to close by Q4 of 2017.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more