Cisco plans to buy SkypeAugust 31st, 2010 - 1:09 am ICT by IANS
San Francisco, Aug 30 (DPA) Cisco has made a bid to buy Skype for around $5 billion, before the privately-held internet phone company goes public, the influential Silicon Valley blog TechCrunch reported Monday.
Skype allows users to make free internet telephone and video calls to other Skype users and charges relatively low rates for calls from computers to land and mobile phones. The company is facing stiff competition from Google which last week launched a similar telephony service for users of its Gmail system.
Cisco is the world’s leading maker of internet networking hardware and had been active in developing and acquiring communications systems that complement and increase demand for the switches and routers that manage traffic on the internet.
Ebay bought Skype in 2005 for $2.6 billion and then sold it back to private investors headed by Skype’s founders for $1.9 billion in 2009.
Skype has a reported 560 million registered users and is planning to offer its shares in an IPO, though no details about the timing and value of the public share sale have yet been released. In the first half of the year, sales rose 25 percent in to $406 million but profit was only $13 million.
- Skype On An Expansion Drive - Dec 23, 2010
- Microsoft buys Skype for $8.5 billion - May 10, 2011
- Huawei unveils gigabit switches for Indian enterprises - Jun 25, 2012
- Now, China makes Skype illegal - Dec 31, 2010
- Microsoft to acquire Skype for $8.5 billion - May 10, 2011
- Facebook plans to go public to raise $87bn - May 04, 2012
- Skype Outage Caused Confusion Among Users Worldwide - Dec 23, 2010
- Microsoft acquires Skype for $8.5 bn - Oct 14, 2011
- eBay settles Skype software suit - Nov 07, 2009
- Google opens new line to internet phone calls - Aug 27, 2010
- Skype and Facebook join hands to counter Google Voice - Sep 30, 2010
- Facebook's IPO will give birth to many millionaires - Dec 09, 2011
- Facebook IPO boosts growth of Chinese sites - Feb 03, 2012
- Facebook set to raise $16 bn with largest tech IPO - May 18, 2012
- eBay fourth-quarter profit jumps 16 percent - Jan 21, 2010
Tags: , , , , , , , , , , , , , , , , , , ,