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Cisco closes BroadSoft deal

U.S. technology and networking multinational Cisco Systems Inc. closed the acquisition of cloud calling and contact center services provider BroadSoft Inc.

Cisco is paying $55 per share, in cash, in exchange for each share of BroadSoft common stock, for a purchase price of about $1.9 billion net of cash and investment, assuming fully diluted shares including conversion of debt.

The companies have asked the Nasdaq to file a notification of delisting with the SEC on behalf of BroadSoft. Cisco expects the delisting of BroadSoft's common stock from the Nasdaq stock market to formally become effective on Feb. 12, the company said Feb. 2.

Former BroadSoft CEO Michael Tessler will now be part of Cisco's Unified Communications Technology Group led by Vice President and General Manager Tom Puorro, under the Applications Group led by Rowan Trollope.