Cisco Will Buy Socio Labs To Enhance Webex Events
Cisco reveals plans to plans to acquire event platform maker Socio Labs in a deal that will boost live streaming, participant networking and attendee engagement for large-scale, hybrid events. By Gina Narcisi May 12, 2021, 12:10 PM EDT
Cisco is continuing its recent acquisition spree with plans to acquire Socio Labs, an events technology startup based in Indiana.
The deal will boost Webex’s events capabilities around live streaming, sponsorship, participant networking and advanced analytics, and continuous attendee engagement before, during and after events, according to Cisco.
The tech giant has been aggressively building out the Webex platform, a sought-after collaboration tool that has risen in popularity over the last 15 months as a result of the global COVID-19 pandemic. Cisco has added more than 400 features to Webex in less than a year and has closed three acquisitions for technolog
Cisco acquires Socio Labs to bolster Webex’s online event capabilities
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Cisco Systems Inc. today announced plans to acquire Socio Labs Inc., a venture-backed startup that provides software for organizing virtual conferences and managing related tasks such as ticket sales.
The deal is expected to close by July 25. Cisco plans to use Socio Labs’ software to enhance its Webex videoconferencing service’s features for hosting online events.
In the bigger picture, the deal will also advance the network equipment maker’s ongoing effort to make software and subscriptions a larger part of its business.
Since launching in 2016, Socio Labs has built up a customer base that includes the likes of Google LLC, Microsoft Corp. and Stanford University, among other big names. The startup’s platform is marketed as a one-stop-shop toolkit that allows event teams to manage the core aspects of organizing a virtual conference in one place.
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Cisco to buy event platform Socio Labs Wednesday 12 May 2021 | 16:50 CET | News Cisco has agreed to acquire Socio Labs, a privately held company in the US with a tech platform for event organisers that provides the tools necessary to host in-person, virtual or hybrid events of any size and format. Cisco said the buy will broaden its own Webex Events beyond meetings, webinars and webcasts, to also include large-scale, multi-session hybrid events and conferences. The service will also be able to provide live streaming, sponsorship, networking and advanced analytics, with continuous engagement before, during and after events, as well as Webex features such as polling, Q&A,
Cisco Systems Inc (NASDAQ: CSCO) is acquiring Socio Labs, a privately-held event technology platform. The financial terms of the transaction were not disclosed.
What Happened: Socio Labs cites Alphabet Inc.’s (NASDAQ: GOOGL) (NASDAQ: GOOG) Google, Microsoft Corporation (NASDAQ: MSFT. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Cisco Systems Inc (NASDAQ: CSCO) is acquiring Socio Labs, a privately-held event technology platform. The financial terms of the transaction were not disclosed.
What Happened: Socio Labs cites Alphabet Inc.’s (NASDAQ: GOOGL) (NASDAQ: GOOG) Google, Microsoft Corporation (NASDAQ: MSFT. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: