Cisco completes acquisition of BroadSoft
February 2, 2018
Cisco has announced the completion of its acquisition of BroadSoft. Cisco said BroadSoft will accelerate its cloud strategy and collaboration portfolio by adding cloud calling and contact centre solutions to its calling, meetings, messaging, customer care, hardware endpoints and services portfolio.
Former BroadSoft CEO Michael Tessler and his organisation are joining Cisco’s Unified Communications Technology Group led by Vice President and General Manager Tom Puorro, under the Applications Group led by Rowan Trollope.
Under the terms of the agreement, Cisco is paying $55 per share, in cash, in exchange for each share of BroadSoft common stock, for an aggregate purchase price of approximately $1.9 billion net of cash and investment, assuming fully diluted shares including conversion of debt.