Cisco Agrees to Buy U.K. Cloud Company for $721 Million (2)

Cisco Systems Inc. agreed to buy U.K. customer service software maker IMImobile Plc in a deal valued at about 543 million pounds ($721 million) as part of a plan to enhance tools to help companies keep track of and interacting with users. IMImobile shares rose the most on record.

The deal, Cisco’s largest U.K. acquisition in about three years, offers IMImobile investors 595 pence per share in cash, the company said in a statement on Monday. That’s a 48% premium to the company’s Friday closing price of 402.50 pence.

Cisco is seeking to push further into automation to improve the ...