Google Buys Streaming Media Firm GIPS For $68m

Google has acquired Oslo-based audio and video streaming technology maker Global IP Solutions.

The search giant bought the company for $68 million, according to a Reuters report.

GIPS, which is backed by Kistefos Venture Capital AS and Kistefos Venture Capital II DA, makes technology that allows customers to stream audio and video files in real-time, and has many clients ranging from prominent developer companies to several VoIP services providers.

Google said that GIPS technology allows users to significantly minimise the level of audio and video disturbances like jitter, echo and delays developers face when they create real-time audio and video streaming applications.

Commenting on the development, Rian Liebenberg, Google's Engineering Director, told Reuters: “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.”

Industry experts believe the technology Google has acquired will allow the company to expand its popular YouTube video sharing service.