BroadSoft Announces Acquisition of VoIP Logic
GAITHERSBURG, Md., Oct. 31, 2016 (GLOBE NEWSWIRE) — BroadSoft, Inc. (NASDAQ:BSFT), a global unified communication software as a service (UCaaS) leader, has acquired VoIP Logic, a wholesale provider of BroadWorks-based cloud communications services to internet and other service providers in the US. VoIP Logic has been successful in growing its customer base by offering an attractive cloud wholesale offer to its customers. This cloud model will be added to the BroadSoft BroadCloudⓇ portfolio and addresses the needs of service providers who want greater control of their platform.
With best-of-breed technology and proven geographic resiliency, security and uptime, VoIP Logic offers service providers the control and flexibility to design, integrate and update their cloud services to address their customer’s evolving requirements. As an established cloud PBX and BroadSoft UC-OneⓇ application provider, VoIP Logic will complement the BroadCloud UCaaS solution, which enables service providers to leverage the feature-rich capabilities, flexibility and reliability of BroadWorksⓇ and UC-One while transforming from a CAPEX-intensive infrastructure to a scalable, flexible OPEX service model. VoIP Logic will represent an exciting complementary piece of the BroadSoft SaaS portfolio.
“We see that a large percent of data consumed by today’s business is through cloud services, which is why BroadSoft has become the go-to cloud transformation partner for service providers seeking to rapidly shift their legacy telecom infrastructure to a network capable of delivering enterprise cloud applications for mobile unified communication, team collaboration and customer engagement,” said Taher Behbehani, chief digital and marketing officer, BroadSoft. “VoIP Logic further strengthens our BroadCloud UCaaS solution portfolio, and the ability for our service provider customers to fully benefit from the cloud.”
For 2016, BroadSoft expects the acquisition to contribute approximately $800,000 in revenue and be $0.01 dilutive to its non-GAAP earnings.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by their use of terms and phrases such as “will” and “enable” and other similar terms and phrases and include statements regarding BroadSoft’s ability to incorporate VoIP Logic’s operations into its existing BroadCloud solution, the expected benefits of the acquisition and VoIP Logic’s product and service offerings to BroadSoft and its service provider customers, and the expected impact of the acquisition on BroadSoft’s financial results. The outcome of the events described in these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to, the possibility that the anticipated financial and other benefits from the acquisition are not realized or are lower or take longer to realize than expected, BroadSoft does not successfully integrate VoIP Logic’s operations into its own or BroadSoft is unable to retain VoIP Logic’s customers or personnel, as well as those factors contained in the “Risk Factors” section of BroadSoft’s Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission, or SEC, on February 29, 2016, and in BroadSoft’s other filings with the SEC. All information in this release is as of October 31, 2016. Except as required by law, BroadSoft undertakes no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in BroadSoft’s expectations.
BroadSoft is the technology innovator in cloud communications, collaboration, and contact center solutions for businesses and service providers across 80 countries. We are the market share leader for cloud unified communications with an open, mobile and secure platform trusted by 25 of the world’s top 30 service providers by revenue. Our BroadSoft Business application suite empowers users and teams to share ideas and work simply to achieve breakthrough performance.
For additional information, visit www.BroadSoft.com.
About VoIP Logic:
VoIP Logic is a Platform-as-a-Service (PaaS) provider of Voice over-Internet Protocol (VoIP) technology to carriers and Service Providers. VoIP Logic allows Service Providers to dramatically reduce the cost and complexity of running a facilities-based communications service. Using our infrastructure spread across 6 collocation facilities, any Service Provider can design and incorporate systems and solutions into their interconnected VoIP, Information Technology or other services using leading technologies, with a high level of control, with substantial economies of capital and operations while working with an experienced and credentialed engineering team. Learn more at http://www.voiplogic.com/.
Investor Relations: Chris Martin +1 561-404-2130 firstname.lastname@example.org Media Contacts: Americas Brian Lustig, Bluetext PR for BroadSoft US +1 301.775.6203 email@example.com Europe Andy Crisp / Jon Bawden / Kate Anderson, Cohesive for BroadSoft UK +44 (0) 1291 626200 firstname.lastname@example.org APAC Terry Alberstein, Navigate Communication +61 (0) 458-484-921 terry@navigatecommunication.