News
Networks vendor could announce takeover on Monday, sources say
Cisco is close to inking a deal to acquire business services provider Broadsoft and could make an announcement as early as Monday.
The deal has yet to be finalised, Bloomberg reported, citing unnamed sources with knowledge of the situation.
The companies themselves have not provided comment.
Broadsoft has been seeking suitors and has attracted interest from buyout firms Siris Capital Group and Searchlight Capital Partners, the newswire said, noting that the firm has a market value of around US$1.7 billion.
Should a deal emerge, it would come at a particularly acquisitive time for Cisco, which has never been one to shy away from getting the chequebook out.
The vendor has announced eight acquisitions this year so far, according to Bloomberg, including the $3.7 billion purchase of AppDynamics at the start of the year, and the $610 million takeover of SD-WAN specialist Viptela in May.
