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October 23, 2017

Cisco closes in on BroadSoft takeover

Cisco are expected to close a deal on their takeover of BroadSoft by Monday.

By April Slattery

Cisco plans to continue its successful run of investments this year by investing in US company BroadSoft.

Rumours emerged that Cisco is looking to take over the US Telecommunications Software Company BroadSoft, for an estimated value of $2bn, according to sources from Reuters.

Earlier this year in August BroadSoft was rumoured to be looking into a sale of the company, and best known for its cloud and communications services to businesses.

Cisco close in on Broadsoft takeover

BroadSoft is best known for cloud and communications software.

BroadSoft, based in Gaithersburg in Maryland, offers software and services that give mobile and cable service operators the ability to offer inclusive communications over their networks.

Additionally, the company’s cloud and communication services are delivered to around 80 countries worldwide.

Currently BroadSoft’s market share is worth around $1.7bn, and being bought by Cisco could increase their position and projection in the market.

Cisco declined to comment on rumours of the deal, however if negotiations become solid the purchase will become Cisco’s second biggest acquisition this year, behind its $3.7bn takeover of AppDynamics earlier this year in March.

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In addition to this latest acquisition for Cisco, the company has made many other investments throughout the year in areas including security services and IoT projects.

Along with their investments Cisco has teamed up with organisations such as ScotRail to deliver super-fast Wi-Fi, gained funding from the UK government to build a London Lab to develop driverless technology and investing to provide smart solutions to local councils such as Southend-on-Sea.

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Buying BroadSoft will allow Cisco to thrive further in the market and continue the types of investment they’ve already made in the future, to better deliver services to the public and businesses.

Both Cisco and BroadSoft declined to comment on the deal, but if things go the way they are heading the deal should be finalised by Monday.

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