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Cisco to acquire BroadSoft
Yesterday evertiq reported that Cisco was negotiating with software company BroadSoft regarding a potential acquisition of the company; and now, the papers are signed.
Following evertiq's report it didn’t take many hours before Cisco and BroadSoft announced a definitive agreement for Cisco to acquire publicly-held BroadSoft. According to the agreement, Cisco will pay USD 55 per share, in cash, in exchange for each share of BroadSoft, or an aggregate purchase price of approximately USD 1.9 billion. The acquisition has already been approved by the board of directors of each company. "Together, Cisco and BroadSoft will deliver a robust suite of collaboration capabilities across every market segment," said Rowan Trollope, senior vice president and general manager of Cisco's Applications Business Group. "We believe that our combined offers, from Cisco's collaboration technology for enterprises to BroadSoft's suite for small and medium businesses delivered through Service Providers will give customers more choice and flexibility." "As businesses continue to move toward the cloud in search of simplicity and speed, joining Cisco will allow us to deliver best-in-class collaboration tools and services. BroadSoft's hosted offerings, sold through the Service Providers and aimed at small and medium businesses, are highly complementary to Cisco's on-premises and enterprise-centric HCS offerings. Together, we can inspire teams to create, collaborate and perform in ways never before imagined," said Michael Tessler, president and CEO, BroadSoft. The acquisition of BroadSoft reinforces Cisco's commitment to Unified Communications and enhances its ability to address the millions of ageing TDM lines poised to transition to IP technology and cloud native solutions over the coming years. The acquisition is expected to close during the first quarter of calendar year 2018, subject to customary closing conditions and regulatory review. Upon completion of the transaction, BroadSoft employees will join Cisco's Unified Communications Technology Group led by Vice President and General Manager Tom Puorro, under the Applications Group led by Trollope.
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