By Ian Walker

Cisco Systems Inc. said Monday that it has agreed to a 543 million pound ($729.6 million) cash offer for IMImobile PLC.

Under the offer, accepting shareholders of the London-listed communications-software provider will get 595 pence for each share held. The offer price is a 48% premium to IMImobile's closing price of 402.50 pence Friday.

"Cisco has committed to supporting our current growth plans and we look forward to pursuing these plans with the benefit of being part of one of the world's leading technology companies," IMImobile Nonexecutive Chairman John Allwood said.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

12-07-20 0239ET