BroadSoft Shares Popped: What You Need to Know
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What: Shares of BroadSoft (NAS: BSFT) have popped by as much as nearly 11% today after the company announced it has acquired Movial Applications, a company based out of Finland.
So what: Movial is a privately held client developer for IP communications services, and BroadSoft has picked up the company in an all-cash transaction. Movial designs and develops user interfaces and multimedia-sharing applications catered to a variety of communications devices and IP-based communications applications.
Now what: Together, global service providers can deliver integrated services between a broad range of devices and operating systems. BroadSoft CEO Michael Tessler said, "The proliferation of mobile broadband and explosive growth of smart mobile devices are dramatically changing the way individuals can communicate, opening new opportunities in our industry." BroadSoft expects the acquisition to be non-dilutive to non-GAAP earnings next year.
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