NASDAQ OMX

Cisco Completes Acquisition of BroadSoft

Dela

SAN JOSE, Calif., Feb. 02, 2018 (GLOBE NEWSWIRE) -- Today Cisco (NASDAQ:CSCO) announced the completion of its acquisition of BroadSoft (NASDAQ:BSFT). BroadSoft accelerates Cisco's cloud strategy and collaboration portfolio by adding the industry's leading cloud calling and contact center solutions to Cisco's leading calling, meetings, messaging, customer care, hardware endpoints and services portfolio.

More and more businesses expect fully featured calling, meeting, messaging and contact center solutions with the ability to deploy them flexibly - on premises, in the cloud or as hybrid solutions to leverage existing investments. By combining BroadSoft's open interface and standards-based solutions primarily delivered via Service Provider partners, with Cisco's existing portfolio, the combined company will offer best-of-breed solutions for businesses of all sizes which will be delivered through VAR and Service Provider partners. Together, Cisco and BroadSoft will deliver a full suite of rich collaboration experiences to power the future of work.

Former BroadSoft CEO Michael Tessler and his organization are joining Cisco's Unified Communications Technology Group led by Vice President and General Manager Tom Puorro, under the Applications Group led by Rowan Trollope.

Under the terms of the agreement, Cisco is paying $55 per share, in cash, in exchange for each share of BroadSoft common stock, for an aggregate purchase price of approximately $1.9 billion net of cash and investment, assuming fully diluted shares including conversion of debt. Cisco and BroadSoft notified NASDAQ of the completion of the acquisition and requested that NASDAQ file a notification of delisting with the Securities and Exchange Commission (the "SEC") on BroadSoft's behalf. Cisco expects that the delisting of BroadSoft's common stock from the NASDAQ stock market will formally become effective on February 12, 2018.

Pursuant to the Indenture, dated as of June 20, 2011 (as supplemented, the "2011 Indenture"), between BroadSoft and Wells Fargo Bank, National Association ("Wells Fargo"), relating to its outstanding 1.50% Convertible Senior Notes due 2018 (the "2011 Notes"), and the Indenture, dated as of September 15, 2015 (as supplemented, the "2015 Indenture"), between BroadSoft and Wells Fargo, relating to its outstanding 1.00% Convertible Senior Notes due 2022 (the "2015 Notes"), the completion of Cisco's acquisition of BroadSoft constituted both a "Fundamental Change" and a "Make-Whole Fundamental Change" (each, as defined in the 2011 Indenture and the 2015 Indenture, respectively) effective yesterday. A copy of the 2011 Indenture was included as an exhibit to BroadSoft's Current Report on Form 8-K, filed with the SEC on June 21, 2011 and a copy of the 2015 Indenture was included as an exhibit to BroadSoft's Current Report on Form 8-K, filed with the SEC on September 15, 2015.

About Cisco
Cisco (NASDAQ:CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.

RSS Feed for Cisco: http://newsroom.cisco.com/rss-feeds

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.  

Forward-Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to Cisco and its customers, and plans regarding BroadSoft personnel.  Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of BroadSoft due to the uncertainty about the acquisition, the retention of employees of BroadSoft and the ability of Cisco to successfully integrate BroadSoft and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.

Press Contact: 
Robyn Jenkins-Blum   
+1 408 853 9848  
rojenkin@cisco.com 

Industry Analyst Contact: 
Ben Culp  
+1 949 823 3787 
beculp@cisco.com 

Investor Relations Contact:
Carol Villazon
+1 408 527 6538
carolv@cisco.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cisco via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

LeoVegas applies for gambling licence in Sweden20.8.2018 12:05Pressmeddelande

On January 1, 2019, Sweden becomes a licensed gaming market and LeoVegas has now submitted its application to obtain a licence for casino and sports betting. This is in line with LeoVegas' expansion strategy and is one of the steps towards achieving the financial targets for the year 2020, which are to reach at least EUR 600 m in revenue and EBITDA of at least EUR 100 m. "While it has been known for some time that Sweden is introducing a local licence system, it is very exciting to formally submit an application and is something we have been looking forward to for a long time. Sweden's becoming a locally regulated market is a milestone for Sweden, the industry and LeoVegas. Now, for the first time, everyone can compete on equal terms in a regulated environment, where responsible gaming is a very important part. We believe we have great opportunities to continue gaining market shares in the Swedish market. LeoVegas is a company that operates on several regulated markets and thus has the

LeoVegas ansöker om spellicens i Sverige20.8.2018 12:05Pressmeddelande

Den 1:a Januari 2019 blir Sverige en licensierad spelmarknad och LeoVegas har nu lämnat in sin licensansökan för casino och sportspel. Detta ligger i linje med LeoVegas expansionsstrategi och är ett av stegen för att uppnå de finansiella målen år 2020 om minst 600 MEUR i intäkter och minst 100 MEUR i EBITDA. "Att Sverige inför ett lokalt licenssystem har varit känt en längre tid men att formellt lämna in ansökan känns oerhört bra och någonting vi sett fram emot länge. Att Sverige äntligen blir en reglerad marknad är en milstolpe för Sverige, branschen och LeoVegas. Nu kan alla för första gången konkurrera på lika villkor i en reglerad miljö, där ansvarsfullt spelande är en väldigt viktig del. Vi anser oss ha stora möjligheter att fortsätta ta marknadsandelar på den svenska marknaden. LeoVegas är ett bolag som opererar på flera reglerade marknader och har därmed de rätta verktygen och kunskapen för att skapa en hållbar och stark tillväxt.", säger Gustaf Hagman, Group CEO. Reglerade mark

Stillfront Group AB: Stillfront Group rekryterar IR- och kommunikationschef20.8.2018 08:30Pressmeddelande

PRESSMEDDELANDE 2018-08-20 Stillfront Group rekryterar IR- och kommunikationschef Sofia Wretman har utsetts till IR- och kommunikationschef för Stillfront Group och kommer att ingå i koncernledningen. Befattningen är ny och omfattar intern och extern kommunikation samt investor relations. Sofia Wretman har mer än 15 års erfarenhet av att arbeta strategiskt med kommunikations- och IR-frågor inom olika branscher. Tidigare positioner inkluderar bland annat IR- och kommunikationschef på Alimak Group, seniorkonsult på Hallvarsson & Halvarsson och kommunikationsansvarig på SAS Institute. "Vi är glada att välkomna Sofia till Stillfronts ledning. Sofia blir ansvarig för koncernens kommunikation, internt och externt samt investor relations. Rekryteringen av Sofia och tillsättningen av denna tjänst, som är ny, är ett led i bolagets planerade listbyte till Nasdaq Stockholms huvudlista. Denna satsning är också viktig då gruppen sedan noteringen på First North 2015 har vuxit med flera stora förvärv

Stillfront Group AB: Stillfront Group announces Head of IR & Communications20.8.2018 08:30Pressmeddelande

PRESS RELEASE 2018-08-20 Stillfront Group announces Head of IR & Communications Sofia Wretman has been appointed as Head of IR & Communications and will be part of the Group's management team. The position is new and covers both internal and external communications as well as investor relations. Sofia Wretman has more than fifteen years of experience of strategic communication and investor relations from a range of industries. Former positions include Head of IR & Communications at Alimak Group, Senior Consultant at Hallvarsson & Halvarsson and Communications manager at SAS Institute. "We are pleased to welcome Sofia as member of the management team. Sofia will be responsible for internal and external communications as well as investor relations. The recruitment of Sofia and the appointment of this new role is part of the Group's planned move to the main market of Nasdaq Stockholm. The recruitment is also important as the Group since its listing at First North in 2015, has grown rapidl

BIMobject AB: Kallelse till extra bolagsstämma den 5 september 2018. Patrick Söderlund och Hjalmar Winbladh föreslås som nya styrelseledamöter i BIMobject AB. Split 2:1 föreslås.15.8.2018 15:30Pressmeddelande

Aktieägare representerande cirka 49 procent av rösterna i BIMobject AB har meddelat att de föreslår att Hjalmar Winbladh och Patrick Söderlund väljs till nya styrelseledamöter vid en extra bolagsstämma onsdagen den 5 september 2018. Ben O'Donnell lämnar sitt uppdrag som styrelseledamot i samband med den extra bolagsstämman. Styrelsen kommer därefter att bestå av Stefan Larsson (VD), Anders Wilhjelm (ordförande), Johannes Reischböck, Philippe Butty, Hjalmar Winbladh och Patrick Söderlund. Vidare föreslås ändrad ersättning till styrelsen. Nytt arvode utgår med 800 000 kronor, fördelat mellan styrelseordförande och Söderlund om 400 000 kronor vardera. Styrelsen föreslår även att stämman beslutar om aktieuppdelning av befintliga utestående aktier i förhållande 2:1. Patrick Söderlund, född 1973 och svensk medborgare, är Chief Design Officer samt Executive Vice President på Electronic Arts. I denna roll leder han utvecklingen av bolagets tekniska innovationer och bolagets marknadsföringsteam

BIMobject AB: Notice to attend Extraordinary General Meeting on September 5, 2018. Patrick Söderlund and Hjalmar Winbladh proposed as new Board Members in BIMobject AB. A split 2:1 is proposed.15.8.2018 15:30Pressmeddelande

Shareholders representing approximately 49 percent of the votes in BIMobject AB have announced that they propose that Hjalmar Winbladh and Patrick Söderlund are appointed new Board Members at an Extraordinary General Meeting to be held on Wednesday September 5, 2018. Ben O'Donnell resigns as Board Member in connection with the Extraordinary General Meeting. The Board will thereafter be composed of Stefan Larsson (CEO), Anders Wilhjelm (Chairman), Johannes Reischböck, Philippe Butty, Hjalmar Winbladh and Patrick Söderlund. Furthermore, a change in remuneration to the Board is proposed. The new Board fee totals SEK 800,000 and is to be divided between the Chairman and Söderlund with SEK 400,000 each. The board also proposes that the General Meeting resolves to split the company's shares 2:1. Patrick Söderlund, born in 1973 and a Swedish citizen, is Chief Design Officer and Executive Vice President at Electronic Arts. In his present role he manages the development of technology innovation

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum