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Cisco Announces Agreement to Acquire BroadSoft

Cisco Announces Agreement to Acquire BroadSoft

Transforming the Future of Work

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SAN JOSE, Calif. – On October 23, 2017, Cisco announced its intent to acquire BroadSoft, Inc. a publicly-traded company, headquartered in Gaithersburg, MD and a leading provider of cloud calling and contact center solutions. 

Collaboration is the first step to business digitization. Businesses everywhere are delivering new customer experiences and empowering their workforces to innovate, using collaboration technology to transform the way people and teams interact and innovate in real time.

At Cisco, we are committed to delivering the next generation of collaboration experiences to all workers across every room, desk, pocket and application. These experiences include meetings, as well as messaging, voice, and contact center. As our customers continue to transition to the cloud, they are demanding deployment flexibility across all of these experiences. This requires collaboration solutions across all workloads on-premises and in the cloud.

The acquisition of BroadSoft accelerates the growth of Cisco’s cloud collaboration portfolio by adding the industry’s best cloud voice and contact center solutions to Cisco's leading meetings, hardware and services portfolio. Together, BroadSoft and Cisco will be well-positioned to deliver a full suite of collaboration capabilities to power the future of work.

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Additional Information and Where to Find It

In connection with the proposed acquisition and required stockholder approval, BroadSoft, Inc. will file with the Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement. The proxy statement will be mailed to the stockholders of BroadSoft. BroadSoft’s stockholders are urged to read the proxy statement (including all amendments and supplements) and other relevant materials when they become available because they will contain important information.  Investors may obtain free copies of these documents (when they are available) and other documents filed with the SEC at its website at http://www.sec.gov.  In addition, investors may obtain free copies of the documents filed with the SEC by BroadSoft by going to BroadSoft's Investor Relations page on its corporate website at http://investors.broadsoft.com, or by contacting BroadSoft Investor Relations at (561) 404-2130.

BroadSoft and its officers and directors and other members of management and employees may be deemed to be participants in the solicitation of proxies from BroadSoft’s stockholders with respect to the acquisition.  Information about BroadSoft’s executive officers and directors is set forth in the proxy statement for the BroadSoft 2017 Annual Meeting of Stockholders, which was filed with the SEC on March 17, 2017. Investors may obtain more detailed information regarding the direct and indirect interests of BroadSoft and its respective executive officers and directors in the acquisition by reading the preliminary and definitive proxy statements regarding the transaction, which will be filed with the SEC.

In addition, Cisco and its officers and directors may be deemed to have participated in the solicitation of proxies from Brooklyn’s stockholders in favor of the approval of the transaction.  Information concerning Cisco’s directors and executive officers is set forth in Cisco’s proxy statement for its 2016 Annual Meeting of Shareholders, which was filed with the SEC on October 24, 2016, annual report on Form 10-K filed with the SEC on September 7, 2017, Form 8-K filed with the SEC on September 18, 2017, and Form 8-K filed with the SEC on March 13, 2017. These documents are available free of charge at the SEC’s website at www.sec.gov or by going to Cisco’s Investor Relations website at http://investor.cisco.com

Q: Can you explain BroadSoft’s offering?

A: BroadSoft Business portfolio provides a fully integrated portfolio of cloud PBX, unified communications, team collaboration and contact center services supported by BroadSoft’s world-class services and partner programs. BroadSoft Business takes an open architecture approach using open interfaces, industry standards, pre-built integrations, APIs, and SDKs.  Every day, millions of people around the globe rely on BroadSoft Business apps and services to communicate, collaborate and provide outstanding customer support – all delivered by trusted partners.

  • UC-One:  A suite of cloud communications and collaboration solutions that provide integrated business phone services, messaging and presence, audio and video conferencing, screen sharing, file sharing, virtual meeting rooms and more.
  • Team-One:  An all-in-one communications and collaboration application that integrates team-centric messaging with unified communications features such as click-to-call and live meetings. With Team-One, teams and individuals can be more productive with a single, persistent workspace where all of a team’s work and apps are in one place.
  • CC-One:  An omni-channel, cloud contact center solution that uses predictive analytics to lower operating costs and improve business performance.
  • Hub:  A cloud aggregation service that simplifies communications. It combines communications with business cloud applications and puts what’s important to the conversation together in one place.

Brooklyn's platform products, BroadWorks and BroadCloud, enable its customers, predominately large telecommunication carriers, to offer their own customized UCaaS solutions powered by Brooklyn.

Q: Was Cisco previously working with BroadSoft prior to the acquisition announcement and if so, in what capacity?

A: In the last 24 months, Cisco and BroadSoft have been working to certify Cisco world-class IP Phone line and award-winning SX10 videoconferencing codec on BroadSoft’s BroadWorks and BroadCloud platforms.

Q: What is the overlap between Cisco and BroadSoft, and how will this be addressed?

A: Although BroadSoft and Cisco’s product portfolios both address calling and contact center, each company has a different deployment and/or customer segment focus. Where Cisco is primarily strong on-premises deployment models, BroadSoft has focused exclusively on cloud. Also, the cloud calling offers that Cisco provides today are primarily focused on the large enterprise segment, while BroadSoft has addressed needs of the small and medium sized business. Therefore, we see minimal direct overlap in the solutions that Cisco and BroadSoft provide or the customers each serves today. As the two companies come together after close, there will be more information about Cisco’s segmented cloud and on-premises voice solutions.

Q: How will this compete or complement Cisco’s existing relationships with strategic partners?

A: This acquisition should be complementary to Cisco’s existing relationship with strategic partners. The two companies already share many partners in common, and after close, we will continue to jointly support our partners in this transition. Cisco and BroadSoft are both committed to helping deliver SP-hosted solutions, and this acquisition is a big win for our SP partners who have invested in both companies. As small and medium businesses adopt cloud voice and contact center, Service Providers are the best positioned channel to offer them a tailored bundle of mobile, broadband, and unified communications. This proposed transaction is evidence of Cisco’s abiding commitment to Unified Communications and the belief that the SP hosted model is a leading channel to to serve business customers.

BroadSoft Customers and Partners:

If you are an existing customer or partner of BroadSoft and have questions about your product or service, please continue to contact your existing BroadSoft sales representative.

Cisco Customers and Partners:

If you are an existing customer or partner of Cisco and have questions about your product or services, please continue to contact your existing Cisco sales representative.

BroadSoft customers should continue to use the existing process for support on installed BroadSoft products. Cisco will notify you in advance of any change to the support process.

Cisco customers should continue to use the Cisco Technical Assistance Center (TAC) for technical support on Cisco products. For more information about opening a technical support case and for regional TAC telephone numbers, refer to Cisco Worldwide Support Contacts.

Cisco is dedicated to your success and FY18 profitability. We will maintain business continuity while making significant investments to bring next-generation Collaboration solutions to market. With the BroadSoft acquisition our Partners will be able to grow cloud based revenue, reduce customer churn and offer new managed services. Stay tuned for more updates and unique offers to assist in driving growth over the coming weeks and months.

In the meantime, continue working with your current BroadSoft and/or Cisco representative(s).

Cisco Partners can access additional information here (Cisco.com Partner log-in required).

Better Together

Together, Cisco and BroadSoft will be well-positioned to capture the expanding market opportunity in collaboration and deliver a full suite of collaboration solutions whether on-premises or in the cloud.