News: Cisco may purchase Skype

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Cisco may purchase Skype

By Tom Manners 31 August 2010 | Categories: news

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It appears that network infrastructure giant Cisco may be looking towards acquiring Voice Over IP and online chat phenomenon Skype before it completes its IPO process.

TechCrunch is reporting that the company, which has over 65 000 employees worldwide, may acquire Skype to bolster its portfolio. This is according to one of TechCrunch’s “more reliable sources”.

Despite this, the acquisition is yet to be confimed, with TechCrunch revealing that “We have not been able to confirm this rumor one way or another via other sources, which isn’t surprising. A company in lock down during the IPO process is usually even more tight lipped than normal.”

At present it is unsure what Skype may be purchased for, although industry insiders are hinting that the number may be as high as $5 billion.

Online auction website eBay last year sold a majority stake in Skype to a group of investors, the deal valued the company at $2.75 billion.

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