Oct. 23 (UPI) -- Cisco Systems Inc. announced on Monday it will acquire BroadSoft Inc., maker of cloud-based communications software, for $1.9 billion.
The agreement indicates that Cisco, based in San Jose, Calif., is moving further away from router and server manufacturing and sales and into sales of software and services. With BroadSoft, headquartered in Gaithersburg, Md., Cisco will acquire revenue from recurring subscription-based services.