Cisco Successfully Completes their BroadSoft Acquisition
Cisco completes one of UC’s most exciting acquisitions
We saw a significant amount of transformation in the unified communications world in 2017, spurred by rising trends in the digital world, as well as consolidation and collaboration between market leaders. Perhaps one of the biggest announcements we received at the end of the year was the news that Cisco, the leader in worldwide technology innovation, would be purchasing communications giant, BroadSoft.
Whether there was some speculation over whether or not the deal would officially go through, with some parties concerned that a combination of both brands would lead to too much of a monopolised market, the purchase is now officially complete according to a recent Cisco announcement. With the acquisition officially settled, Cisco will be able to begin using BroadSoft’s expertise to expand their marketplace offerings and enhance their cloud collaboration portfolio.
The Ultimate UC Market Collaboration?
Cisco’s decision to purchase BroadSoft has been regarded by some as one of the biggest strategic moves to happen in the UC industry during recent years. More businesses than ever before are searching for solutions that now go beyond the standard desk phone, demanding a service that’s fully-flexible, and ready to perform on any device.
Now that Cisco can combine the open interface and standards-based solutions of BroadSoft with their already competitive portfolio, the combined service will deliver market-leading strategies for businesses of all shapes and sizes across the communication space. Together, the combination of Cisco and BroadSoft could become the number one choice for many brands seeking flexible UC products.
According to Michael Tessler, BroadSoft’s technology combined with Cisco’s unique offerings will ensure that teams have the opportunity to perform, collaborate, and produce in ever-more innovative and impressive ways.
The Details on the Purchase
The details of the purchase agreement were released in October 2017, when the acquisition was originally agreed. Cisco offered approximately $1.9 billion in net cash to BroadSoft, in the hope that combining the two organisations together would ensure that both companies could address the needs of a whole range of market segments. The former CEO for BroadSoft, Tessler, along with other members of the company will be joining the Unified Communications Technology group for Cisco.
The BroadSoft team will be lead by Cisco General Manager Tom Puorro, who is working under the strategic guidance of Rowan Trollope. Rowan will be striving to design a portfolio that gives customers greater flexibility and choice over the services they access in the UC space.
Both BroadSoft and Cisco notified the NASDAQ of the completed acquisition and requested that a notification be filed to delist BroadSoft from the securities and exchange commission, or “SEWC”. Cisco believes that BroadSoft’s stock will be taken away from the NASDAQ stock market officially by the 12th of February 2018.