Google pays $68m for real-time video firm

Robert Clark
19 May 2010
Daily News

Google will pay $68.2 million in cash to buy Global IP Solutions, a San Francisco-based firm which makes technology to deliver voice and video over IP.

GIPS has licensed its technology for real-time audio and video streaming over IP to companies such as AOL, Nortel, Samsung and Yahoo for their voice and video chat offerings.

It also offers the first product enabling developers to add video chat to Android devices, according toPaid Content.

Google will pay 13 Norwegian krone ($2.12) in cash per share, or NOK 421 million ($68.2 million), a 27.5% premium over its share price on May 14, the last trading day before Google made its bid.

The deal is supported by the board but requires the approval by 90% of GIPS shareholders.

GIPs is headquartered in San Francisco and listed on the Oslo Stock Exchange.

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