Cisco announced that it is planning to acquire privately-held US-based Socio, a modern event technology platform that provides event organisers with everything they need to successfully host in-person, virtual or hybrid events.
The acquisition of Socio will enrich Cisco’s Webex Events beyond meetings, webinars and webcasts to include large-scale, multi-session hybrid events and conferences.
The solution will enable live streaming, sponsorship, networking and advanced analytics, as well as Webex features like polling, Q&A, chat and real-time translation.
As the pandemic changed events almost overnight, event planners had to adopt a virtual-only format. With in-person events gradually resuming, the hybrid event model is emerging as the new norm.
Jeetu Patel, senior vice president and general manager of Cisco Security and Collaboration, said:
“The future of events, like the future of work, will be hybrid. With that comes increased complexity of creating inclusive experiences, and meaningful and measurable interactions for both virtual and in-person attendees. Socio Labs offers Webex powerful technology to provide customers with an unparalleled hybrid event management solution to engage participants whether they join in person or virtually.”
The acquisition of Socio will complement Cisco Webex’s vision to deliver inclusive, engaging and intelligent meeting and event experiences, as the recent acquisition of Slido, an industry-leading audience engagement tool also did. Socio is expected to fully merge in Cisco’s Q4 fiscal year 2021. Upon completion, the Socio team will join the Webex Customer Experience team led by Omar Tawakol, vice president and general manager, reporting into the Security & Collaboration Group led by Jeetu Patel, senior vice president and general manager.
Yarkin Sakucoglu, Socio co-founder and CEO, said: “We are delighted to join the Cisco Webex portfolio to continue our common goal of enabling seamless, personalized hybrid events of all sizes. Teaming up with Cisco gives us an amazing opportunity to apply our technology and expertise at an outstanding scale. We look forward to finding new ways to support the recovery and transition of the events industry.”
