October 23, 2017 / 12:08 PM / a year ago

Cisco to buy BroadSoft in $1.9 bln deal

Oct 23 (Reuters) - Cisco Systems Inc, the world's largest networking gear manufacturer, said it will buy U.S. telecommunications software company BroadSoft Inc in a deal valued at about $1.9 billion, including debt.

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)

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