The leading company in the networking industry, Cisco, has announced its intent to buy the California-based Voicea. Voicea uses its expertise in AI technology to develop collaboration technology for enterprises. The price of the acquisition has not been revealed but the acquisition is expected to close in the first quarter of Cisco fiscal year in 2020.
The acquisition of Voicea will help Cisco enhance its Webex portfolio. The inclusion of Voicea will help the company integrate a powerful transcription service which uses AI and Automated Speech Recognition (ASR) to covert meetings and calls into useful collaborations.
More than 130 million people use Webex every month and over 360 million meetings happen over Cisco’s Webex solution every year. Integration of Voicea’s technology will enable a swift conversion of relevant information from the digital and text notes into actionable information.
Cisco’s SVP/GM of Webex Meetings, Teams & Devices at Cisco wrote on the company blog: “We are excited to welcome the Voicea team into the Cisco Webex family and to get to work introducing EVA across our portfolio of collaboration applications and devices. The possibilities are powerful through combining transcription (EVA) and conversational AI (Webex Assistant) engines.”