Cisco Systems has wrapped up its $1.9 billion acquisition of BroadSoft, a deal that will broaden Cisco’s portfolio of cloud calling and contact center products.
Cisco is paying $55 per share, in cash, for each share of BroadSoft. Cisco expects the delisting of BroadSoft’s common stock from the Nasdaq to become effective on February 12.
Following the deal, announced in October, Cisco will integrate BroadSoft’s products into its own mix of calling, messaging, customer care, and services portfolio.
Former BroadSoft CEO Michael Tessler is joining Cisco's Unified Communications Technology Group, led by Vice President and General Manager Tom Puorro, under the Cisco Applications Group, led by Rowan Trollope.
In addition to broadening its portfolio, the deal enhances Cisco’s exposure to cable operators, such as Cox Communications, Charter Communications, and Comcast, that have been working with BroadSoft to deliver hosted-voice services to business customers.
In November, BroadSoft posted Q3 revenues of $91.5 million, up 9% versus the year-ago period, and a net loss of $2.7 million, or 9 cents per basic and diluted common share.