Cisco has announced that its acquisition of unified communications firm BroadSoft is now complete.
Cisco paid for the acquisition in cash and investment, with total value being $1.9 billion, or $55 per share. Both companies have notified NASDAQ of the acquisition, and it is expected that NASDAQ delists BroadSoft from the SEC on February 12, 2018.
BroadSoft’s former CEO, Michael Tessler, and his organisation, will be joining Cisco’s Unified Communications Technology Group, and will report to VP and GM Tom Purro, under the Applications Group, which is spearheaded by Rowan Trollope.
Cisco said the acquisition accelerates its cloud strategy and collaboration portfolio, as it now has the industry leading cloud calling and contact centre solution.
“More and more businesses expect fully featured calling, meeting, messaging and contact centre solutions with the ability to deploy them flexibly - on premises, in the cloud or as hybrid solutions to leverage existing investments,” Cisco said.
“By combining BroadSoft's open interface and standards-based solutions primarily delivered via Service Provider partners, with Cisco's existing portfolio, the combined company will offer best-of-breed solutions for businesses of all sizes which will be delivered through VAR and Service Provider partners. Together, Cisco and BroadSoft will deliver a full suite of rich collaboration experiences to power the future of work.”
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