Cisco has completed its acquisition of BroadSoft . With this, Cisco has accelerated its cloud strategy and collaboration portfolio.
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 deliver a full suite of rich collaboration experiences for businesses of all sizes.
Former BroadSoft CEO Michael Tessler and his organisation are joining Cisco's Unified Communications Technology Group led by VP and GM 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.