Google announced its intention to buy Global IP Solutions for about $68.2 million. The firm develops real-time voice and video processing software for IP networks and is used by firms like Yahoo, AOL, Oracle, Samsung, WebEx, and others.
Google Acquisition Holdings, a Google subsidiary, is to make a public cash offer to acquire all shares of Global IP Solutions for $2.12 in cash per share, which represents an aggregate price of approximately $68.2 million based on the currently issued and outstanding share capital of GIPS.
Global IP Solutions, formerly known as Global IP Sound, was founded in July 1999 in Stockholm, Sweden and is currently headquartered in San Francisco. The company develops real-time voice and video processing software for IP networks and is known for developing the narrowband iLBC and wideband iSAC speech codecs.