Cisco Acquires Software Maker BroadSoft For $1.9B

Taher Behbehani chief marketing officer of Broadsoft Inc. from left Charlie Wade senior vice president of products and solutions at Rogers Communications Inc. and Ron McKenzie senior vice president of Shaw Communications Inc. participate in a panel

Taher Behbehani chief marketing officer of Broadsoft Inc. from left Charlie Wade senior vice president of products and solutions at Rogers Communications Inc. and Ron McKenzie senior vice president of Shaw Communications Inc. participate in a panel

The arrangement between the two companies would also give Cisco a firmer stronghold in selling consolidated communications software to major telecommunication companies.

The networking technology giant is paying $55 per share, marking a 2 per cent premium to Broadsoft's closing price on Friday. The market day ended with the two companies enjoying a rise in their shares, with Broadsoft enjoying a 1.5% boost before the bell.

Cisco Systems, the world's largest networking gear manufacturer, is nearing a deal to buy United States telecom software firm BroadSoft for close to US$2 billion (S$2.7 billion), a person familiar with the matter said on Sunday.

According to the sources if deal negotiations are successfully completed, Cisco will announce the agreement of buying BroadSoft as early as Monday.

The deal, valued at $1.9 billion including debt, is expected to close during the first quarter of 2018, the companies said in a statement.

GM shares rise despite hefty loss, tough North American market
On 7/24/2017 announced a quarterly dividend of $0.38 4.23% with an ex dividend date of 9/7/2017 which will be payable on 9/8/2017. Stewart & Patten Co Llc sold 276,241 shares as the company's stock declined 13.59% while stock markets rallied.

BroadSoft, founded in 1998 by former Alcatel USA executive Michael Tessler and Celcore executive Scott Hoffpauir, according to Bloomberg data, makes software used by mobile and cable companies for voice and multimedia services over their IP-based networks.

Another legacy technology firms have been looking in high-growth areas like security, cloud computing and the Internet of things. It has historically been offering its products to big telecom companies like AT&T and Verizon, which then resells the software to their clients.

While the move might have been surprising for some, Cisco's management strongly believes the two companies complement each other.

"Every customer, when they think about their digital strategies, they think about how they interact with their customers", Robbins was quoted as saying.

'The acquisition of BroadSoft accelerates the growth of Cisco's cloud collaboration portfolio by adding the industry's best cloud voice and contact center solutions to Cisco's leading meetings, hardware and services portfolio, ' the company told investors in a presentation meant to explain the deal and its rationale.

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