Cisco Bid to Acquire Internet Phone Service Skype

Cisco Bid to Acquire Internet Phone Service Skype

Cisco has reportedly already made a bid to buy Skype for a staggering $5 billion, before the privately-held internet phone company goes public for the company, according to Silicon Valley blog TechCrunch.

Many tech experts believe that Cisco and Skype is a perfect match due to the fact that both companies complement each other in a perfect way.

Through Skype, users can make free call and video calls, send instant messages, share files with other Skype users. The company is currently facing a tough competition from the recently launched Google’s Voice Gmail service.

In 2005, eBay acquired Skype for $2.6 billion and in 2009 eBay sold it back to private investors headed by Skype’s founders for $1.9 billion.

Cisco, the $40-billion turnover networking giant, is one of the top producers of internet networking hardware and had been active in improving and acquiring communications systems that strengthen and increase demand for the switches and routers that manage traffic on the internet.

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