Firm’s IPO exit earns top honors in 2011 Venture Capital Awards
GAITHERSBURG, MD, March 21, 2011 – BroadSoft, Inc. (NASDAQ:BSFT, news, filings), the leading global provider of software that enables fixed-line, mobile and cable service providers to deliver real time communications, voice and multimedia services over their IP-based networks, today announced it won The Washington Business Journal 2011 Venture Capital Awards in the category of “Exit of the Year.” BroadSoft was recognized for successfully completing its IPO, as well as for the firm’s growth and financial performance in 2010.
The Awards program recognizes the Greater Washington region’s best venture capital deals – based on size and significance – and the venture capital firms and individuals behind them.
“Taking the company public was truly the result of more than ten years of dedication on the part of our management team and employees to building a market changing software product that is modernizing the way the world communicates,” said Jim Tholen, chief financial officer, BroadSoft. “We are grateful to all of those inside and outside the organization who made our 2010 IPO possible.”
BroadSoft’s IP communications software is utilized by 450 global fixed-line, mobile and cable service providers – including 16 of the world’s 25 largest – to deliver voice and multimedia services over their IP-based networks. The firm recently announced BroadCloud® – a cloud-based, hosted infrastructure that will serve as the foundation for the company’s growing Software-as-a-Service (SaaS) communications capabilities, as well as MobileMxD, an integrated suite of Consumer and Unified Communications (UC) services optimized for 4G networks and the growing variety of smartphones and tablet devices.
BroadSoft provides software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks. The Company’s software, BroadWorks®, enables service providers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, video calling, unified communications, collaboration and converged mobile and fixed-line services.
This press release contains 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 “believe,” “enable,” “expect,” “will,” and other similar terms and phrases and include statements regarding BroadCloud and MobileMxD. The outcome of the events described in these forward-looking statements is 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 ability of fixed and converged operators to leverage BroadCloud to brand and customize UC and consumer solutions and accelerate time-to-market for delivering these services and whether MobileMxD will be successfully developed, adopted by operators, as well as those factors contained in the “Risk Factors” section of BroadSoft’s final prospectus dated December 16, 2010, filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act of 1933, as amended, and in BroadSoft’s other filings with the SEC. All information in this press release is as of March 21, 2011. 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 its expectations.
BroadSoft and BroadWorks are registered trademarks of BroadSoft, Inc. All other names are trademarks of their respective owners.
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