Web giant Google said it will buy a Norwegian firm for $68.2 million for cash. It doesn’t expect anti-competition authorities to object.
Global IP Solutions (GIPS) specialises in creating voice and video processing products over IP (internet protocol). Its customers include Nortel, Oracle, Samsung, Yahoo, Webex, AOL and other voice over IP companies.
The transaction is being made by Google Acquisition Holdings Inc, a wholly owned subsidiary of the search behemoth. Rian Liebenberg, Google’s engineering director, said that the GIPS technology provides hgih quality, real time audio and video over IP networks, and real time audio and video communication over the internet are “important new tools”.
The price Google is paying is 142.1 percent over the closing price of GIPS shares on January 11th, 2010.
Google said it’s unlikely that competition authorities anywhere will object to the deal.