Cisco Systems buying BroadSoft for $1.9 billion cash

AP News
|
Posted: Oct 23, 2017 10:12 AM
Cisco Systems buying BroadSoft for $1.9 billion cash

NEW YORK (AP) — Cisco Systems Inc. will pay about $1.9 billion cash to buy BroadSoft Inc. in a move aimed at expanding its communications software offerings.

The networking technology giant is paying $55 per share, marking a 2 percent premium to Broadsoft's closing price on Friday.

Gaithersburg, Maryland-based BroadSoft provides telecommunications technology for businesses, including phone services, audio and video conferencing and virtual meetings.

BroadSoft's focus on small- and medium-sized businesses will help bolster Cisco's offerings, the San Jose, California-based company said.

Recommended
Fear and Loathing of Jordan Peterson
Suzanne Fields

"More and more businesses expect fully featured voice and contact center solutions with the ability to deploy them on-premises or in the cloud," Cisco said.

The deal is expected to close during the first quarter of 2018.