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Cisco buys Maryland-based BroadSoft for $1.9 billion

October 30, 2017 | Telepresence Options


Story and images by The Washington Post

BroadSoft, the Gaithersburg, Md.-based company that handles the cloud-based software used to manage call conferencing, announced Monday that it is being sold to California-based telecommunications giant Cisco as both companies seek to harness the changes brought by cloud computing.

The $1.9 billion deal represents a 2 percent premium over Friday's closing stock price. The transaction is scheduled to close in the first half of 2018. The offer price is more than 25 percent higher than where BroadSoft shares were trading before Reuters reported Aug. 30 that the company was exploring a potential sale.

Executives described the combination as a step to focus on group teleconferencing services, an expansion beyond the traditional routing hardware Cisco is best known for. Cisco has been building out its WebEx videoconferencing service for large businesses in recent years.

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