Cisco on verge of near-$2bn acquisition - reports

Rumoured acquisition target would throw Cisco deeper into comms space

Cisco is on the verge of completing a $1.7bn (£1.3bn) deal to acquire telecoms firm BroadSoft, according to multiple reports.

Bloomberg and Reuters have both reported that Cisco will follow up its acquisition of Perspica, announced last week, and its $3.7bn deal for AppDynamics with a move for the comms software and services provider.

Citing sources familiar with the matter, Bloomberg reported that an announcement could be made as early as today, but that terms had not yet been finalised.

BroadSoft went public in 2010 and currently has a market capitalisation of $1.67bn.

The sources claimed that the acquisition would help Cisco diversify away from its networking heritage and give it a stronger position in the unified-comms space, particularly selling into large telecoms providers.

BroadSoft has typically sold its products into the likes of Verizon.