Skype Buys Internet Calling Company
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eBay's Skype announced Tuesday plans to acquire start-up Sonorit Holding and its US subsidiary Camino Networks, which specializes in speech processing, coding, and transmission over the Internet. The technology is expected to be integrated into Skype's voice over IP calling services.
"We're excited about bringing the talented Camino Networks team to Skype," said Niklas Zennstrom, Skype CEO, in a statement. "They will add considerable expertise to our own world-class technology team." Sonorit will receive 700,000 shares of eBay stock in the transaction, which is valued at approximately $27 million.