BroadSoft Sells to Cisco for $1.9 Billion

Sale broadens global offering of cloud-based services

San Diego – October 24, 2017 – Cooley advised BroadSoft, the technology innovator in cloud PBX, unified communications, team collaboration and contact center solutions for businesses and service providers, on its sale to worldwide technology leader Cisco. Cooley partner and co-chair of Cooley’s global M&A practice Barbara Borden, and partner Kevin Mills, led the team advising BroadSoft.

“We are excited about this transaction, which represents the culmination of a robust process undertaken by BroadSoft’s Board of Directors to maximize shareholder value,” said Michael Tessler, president and CEO of BroadSoft, in a news release. “As businesses continue to move toward the cloud in search of simplicity and speed, joining Cisco will allow us to deliver best-in-class collaboration tools and services.”

According to Cisco’s news release, by combining BroadSoft's open interface and standards-based cloud voice and contact center solutions delivered via Service Provider partners, with Cisco's leading meetings, hardware and services portfolio, the combined company will offer best-of-breed solutions for businesses of all sizes and deliver a full suite of collaboration capabilities to power the future of work.

Under the terms of the agreement, Cisco will pay $55 in cash per share in exchange of each share of BroadSoft, or an aggregate purchase price of approximately $1.9 billion net of cash, assuming fully diluted shares including conversion of debt. The deal is expected to close in the first quarter of 2018.

Cooley has advised BroadSoft since 1999, when the firm opened its Reston, Virginia, office. In 2010, Cooley represented the company on its IPO.

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Related Contacts
Barbara Borden Partner, San Diego
Kevin Mills Partner, Washington, DC
Aaron Binstock Partner, Washington, DC
Rowook Park Associate, San Diego
Jacqueline Grise Partner, Washington, DC
Darren DeStefano Partner, Reston
Amy M. Wood Partner, San Diego
Joshua Friedman Partner, Boston
Todd Gluth Partner, San Diego
Megan Browdie Partner, Washington, DC
Michael Tollini Partner, Washington, DC
J.G. Harrington Special Counsel, Washington, DC
Randy Sabett Special Counsel, Washington, DC
Kimberly Nguyen Special Counsel, Reston
Elizabeth Lewis Senior Counsel, Washington, DC
MaryBeth Shreiner Associate, Reston
Rebecca Ross Special Counsel, Washington, DC
Charles Haley Partner, Palo Alto