BroadSoft Acquires German Cloud Service Provider Finocom For $9 Mln In Cash

(RTTNews) - BroadSoft, Inc. (BSFT), a provider of software and services, announced Tuesday the completion of the acquisition of finocom AG, a German provider of cloud-delivered unified communications or UC services. Total consideration for the acquisition is approximately $9 million in cash.

With the deal, the company said it is further extending its BroadCloud UC services in the German market.

BroadSoft said it expects the acquisition to add about $2.5 million in revenue in 2014 and to be slightly dilutive on earnings on an adjusted basis.

It is expected that the finocom acquisition will serve as a focal point for BroadSoft's BroadCloud expansion into the German and Eastern European markets.

Following the deal, finocom's employees will join BroadSoft as part of its expanding European team.

Michael Tessler, chief executive officer, BroadSoft, said, "We are excited by the growing demand for our BroadCloud capabilities throughout Europe. With the addition of finocom, we have significantly increased investment in our cloud infrastructure in order to bring BroadCloud to Germany initially and, longer term, throughout Eastern Europe."