TechTaffy

tech:

taffy

Cisco to acquire BroadSoft for $1.9 billion

By TechTaffy Desk

Cisco is acquiring publicly-held cloud unified communications company BroadSoft for approximately $1.9 billion. The acquisition has been approved by the board of directors of each company, said the networking giant in a statement.

By combining BroadSoft’s open interface and standards-based cloud voice and contact center solutions delivered via service provider partners, with Cisco’s meetings, hardware and services portfolio, the combined company will offer best-of-breed solutions for businesses, says Cisco.

Prior to the close, Cisco and BroadSoft will continue to operate as separate companies. Upon completion of the transaction, BroadSoft employees will join Cisco’s Unified Communications Technology Group, led by vice president and general manager Tom Puorro, under the Applications Group led by Rowan Trollope, senior vice president and general manager of Cisco’s Applications Business Group.

The acquisition is expected to close during the first quarter of calendar year 2018, subject to customary closing conditions and regulatory review.

You can find a blog post on the acquisition by Rob Salvagno, head of Cisco’s M&A and venture investment team, here.

[Image courtesy: Cisco]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.