Cisco: Acquiring Accompany to Drive Revenue Growth

Cisco Systems (CSCO) is acquiring a business intelligence startup known as Accompany for $270 million as it seeks to drive revenue growth by tapping into the healthy growth of the enterprise collaboration market. According to MarketsandMarkets, the global enterprise collaboration market will generate more than $49.5 billion in annual revenues by 2021. It was founded in 2013 by former Google (GOOGL) executive Amy Chang, who is set to join Cisco to lead its collaboration business.