Google (NasdaqGS: GOOG) is enhancing its real time video and audio communications capabilities by reaching an agreement to acquire Olso, Norway-based Global IP Solutions AB (Oslo: GIPS.OL).

The deal, which will be conducted via its Google Acquisitions Holdings Inc. unit, will offer $68 million in cash to acquire issued-and-to-be-issued shares of GIPS for $2.12 a share.

In acquiring GIPS, an Oslo-based analyst pointed out in a Wall Street Journal article that Google wants to capitalize on GIPS’ technology versus its financial performance, which has been less than impressive. While GIPS reported $12.06 million in annual revenue in 2009, it had a $6.95 million loss. GIPS’ board of directors said they have recommended shareholders accept Google’s offer.  

“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 in a release.

For more:
- see the release here
- Wall Street Journal has this article (subscription required)

Related articles:
Goober goes for the HD and UC market
Goober offers partly free iPhone VoIP calls

Related posts:

1. Google Should Unveil Android TV System in May – Sony, Intel, Logitech, Dish all involved in products…
2. Verizon & Google Developing iPad Rival – Running on LTE network with ‘bucket of megabyte’ data plan
3. Google considers adding video service to its FTTH service mix
4. Google mulls bringing community FTTH network idea to Europe
5. Level 3 to acquire Global Crossing to scale global reach, video service capabilities

Tags: article, communications capabilities, GIPS, goog, Google, Journal, Norway, olso norway, street journal article, video, Wall Street, wall street journal

Posted in News
No Comments Yet Posted by Don