Google makes $68m cash offer for IP solutions firm

Global IP Solutions provides voice and video processing technology for IP networks

Tags: Global IP Solutions (www.gipscorp.com)Google IncorporatedIPTVUSA
  • E-Mail
Google makes $68m cash offer for IP solutions firm Google is willing to pay more than $68 million to acquire Global IP Solutions. (Getty Images)
By  Vineetha Menon Published  May 18, 2010

Google Acquisition Holdings, a subsidiary of Google, has made a cash offer to acquire Global IP Solutions (GIPS), known for providing voice and video processing in IP communications.

Google will make a public cash offer of about $2.12 in cash per share or an aggregate price of about $68.2 million for all of GIPS' shares.

"The Web is evolving quickly as a development platform, and real-time video and audio communication over the Internet are becoming important new tools for users," said Rian Liebenberg, engineering director at Google. "GIPS's technology provides high quality, real-time audio and video over an IP network, and we're looking forward to working with the GIPS team at Google to continue innovating for the Web platform."

The offer document will be published and distributed to all GIPS shareholders by May 20th. Google's cash offer needs to be accepted by the holders of at least 90% of GIPS' share capital and will expire around June 4th.

Global IP Solutions (GIPS), headquartered in San Francisco, provides voice and video processing technology for IP networks with an admirable customer list including Nortel, Oracle, Samsung, WebEx, Yahoo!, AOL and other key players in the VoIP market. 

 

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code