Google buying Global IP for $68.2 million

May 18, 2010

(AP) -- Google Inc. is buying Global IP Solutions Holding AB for $68.2 million in cash in a move to expand its Internet video and audio offerings, the companies said Tuesday.

The offer represents a 27.5 percent premium to Global IP's closing price on Friday. Shares of the Norwegian company are traded on the Oslo Stock Exchange.

The cash buyout offer is expected to expire on or about June 4. Global IP's board is recommending the deal.

"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 , in a statement.

Google is based in Mountain View, Calif.

Explore further: Google executives get one-dollar paychecks in 2008

0 shares

Related Stories

Cisco uses cash hoard to buy Norwegian co. for $3B

October 1, 2009

(AP) -- Cisco Systems Inc. tapped its immense cash hoard and announced a deal Thursday to buy Norway's Tandberg ASA for $3 billion in a bid to dominate the global market for videoconferencing equipment.

Liberty Global to sell stake to Japan's KDDI

January 25, 2010

(AP) -- Japan's second-largest telecommunications company, KDDI Corp., said Monday it is acquiring Liberty Global Inc.'s stake in Japan's largest cable TV operator for $4 billion in cash.

Recommended for you

Facebook ready to test giant drone for Internet service

July 30, 2015

Facebook says it will begin test flights later this year for a solar-powered drone with a wingspan as big as a Boeing 737, in the next stage of its campaign to deliver Internet connectivity to remote parts of the world.

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.