Oct 23, 2017

Cisco buying BroadSoft for $1.9 billion

Photo via Smith Collection/Gado/Getty Images

Cisco Systems this morning announced that an agreement to buy BroadSoft for $1.9 billion, making it Cisco's eighth acquisition of the year (and second-largest, behind AppDynamics). The $55 per share price works out to a 28% premium over where BroadSoft shares were trading before it announced plans to explore strategic alternatives.

Thesis: Cisco M&A lead Rob Salvagno tells Axios that the strategic play here is about collaboration software. Most of Cisco's current product is on-premise and focused on large enterprise, while BroadSoft is more cloud-based and focused on small and mid-sized businesses.

Forward-looking: Don't expect Cisco's M&A engine to slow down any time soon, particularly as it continues to diversify from its hardware roots.

Human resources: Salvagno suggested that merger-related layoffs could be small do to the lack of overlap, but said those decisions won't be made until post-close (slated for Q1 18).

Go deeper

The rematch of the century

Illustration: Eniola Odetunde/Axios

The weekend's biggest sporting event is Wilder-Fury II, which despite its name is not an action movie sequel starring Jean-Claude Van Damme but, rather, a boxing match starring arguably the two best heavyweights in the world.

The backdrop: In their first meeting in December 2018, Deontay Wilder and Tyson Fury put on a memorable show at Staples Center, with Fury surviving a brutal right hand in the 12th round to earn a split-decision draw.

Pro-Trump warrior takes the helm of U.S. intelligence

Richard Grenell in Berlin. Photo: Sean Gallup/Getty Images

By picking Ambassador Richard Grenell to be acting director of national intelligence, President Trump has slotted a pro-Trump warrior into the ultimate apolitical role.

What they're saying: James Clapper, the longest-serving DNI (2010-2017), tells Axios it's "very worrisome installing a partisan with no real intelligence experience in this position."

Coronavirus kills 2 Diamond Princess passengers as Israel confirms first case

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship — as Israel confirmed its first case among evacuees from the ship.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 76,000 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 1 hour ago - Health