(Reuters) – Cisco Systems Inc (CSCO.O), the world’s largest networking gear manufacturer, said it will buy U.S. telecommunications software company BroadSoft Inc (BSFT.O) in a deal valued at about $1.9 billion, including debt.
A newly installed phone made by Cisco is shown in San Diego, California, U.S., April 17, 2017. REUTERS/Mike Blake
Cisco said it would offer $55 per share, a premium of 2 percent to BroadSoft’s last close.
The deal, which comes after Reuters first reported in August that BroadSoft was exploring a sale, would allow Cisco to further diversify from its stagnating switches and routers business by giving it a stronger foothold in selling unified communications software to big telecommunications firms.
Reporting by Munsif Vengattil and Arjun Panchadar in Bengaluru; Editing by Supriya Kurane
