[October 26, 2009] Venture capital firms sell Packet Island to BroadSoft Tweet Oct 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Venture capital firms Garage Technology Ventures, LLC, Rincon Venture Partners, and Startup Capital Ventures have sold their stakes in Packet Island, Inc., a provider of software-as-a-service (SaaS)-based assessment and monitoring tools for VoIP and video networks and services, to BroadSoft, Inc. All the parties involved in the transaction are based in the US. BroadSoft is a provider of VoIP application software for the telecommunications industry. Announcement (October 5, 2009): Venture capital firms are planning to sell their stakes in Packet Island to BroadSoft. Deal Type Venture Finance Sub-Category Exit Deal Status Completed: 2009-10-26 Deal Participants Target (Company) Packet Island, Inc. Acquirer (Company) BroadSoft, Inc. Deal Rationale The acquisition will broaden BroadSoft's portfolio to include VoIP and video quality of service (QoS) solutions, its range of cloud-based communications offerings, provide revenue growth opportunities, and create long-term value for its service provider customers. The acquisition enables BroadSoft to address the need in the market of ensuring QoS, and quality of experience (QoE), for real-time communications. [ Back To TMCnet.com's Homepage ]