Monday, February 5, 2018

Cisco Completes $1.9 Billion BroadSoft Acquisition

San Jose-based Cisco said on Friday that it has completed its $1.9 billion acquisition of BroadSoft, paying $55 per share in cash for the firm. Broadsoft, which was formerly traded as BSFT on the NASDAQ, becomes part of Cisco's Unified Communications Technology Group, under its Applications Group. Former BroadSoft CEO Michael Tessler joins the company with the acquisition. Cisco said the acquisition will help bolster its calling, meetings, messaging, customer care, hardware endpoints and services portfolio. The two had originally announced the acquisition last year, in October.