Skype To Acquire Qik

Skype is to acquire Qik, a provider of mobile video software and services that enable individuals to capture and instantly share video from anywhere. Qik has 60 employees, and is headquartered in Redwood City, California and has an office in Moscow, Russia. The transaction is expected to close in January 2011. Terms of the acquisition were not disclosed, though it is being reported that Skye are paying $150 million, including an earnout.

Qik was founded in 2006 and offers innovative and flexible solutions to capture and share video with anyone across mobile devices, the web, and desktop platforms. Videos can be shared in real time or stored so moments can be viewed later, allowing for video messaging, sharing and archiving. The Qik service is available across the Android, iPhone, Symbian, Blackberry and Windows Mobile platforms, and comes pre-loaded on a wide variety of mobile handsets through partnerships with handset manufacturers and carriers.

The acquisition of Qik enables Skype to add video recording, sharing and storing capabilities to Skype’s product portfolio. Through this acquisition, Skype will also be able to leverage the engineering expertise that is behind Qik’s Smart Streaming™ technology, which optimizes video transmission over wireless networks.

“The Qik team has delivered exceptional video experiences for its mobile partners and millions of end users across a range of devices,” said Tony Bates, Skype’s Chief Executive Officer. “Skype’s software enables an estimated 25 percent of the world’s international long distance voice calling minutes , and approximately 40 percent of those Skype-to-Skype calls are happening over video. Qik’s deep engineering capabilities and strong mobile relationships will be an impressive complementary fit with Skype.”

“Qik has worked very hard to solve complex problems that allow millions of people everyday to take advantage of sharing their lives with those people who are most important to them,” said Vijay Tella, Chief Executive Officer of Qik. “Joining Skype allows Qik’s team to unite with Skype’s talented team to develop new and innovative products for our customers and partners.”

Luxembourg & USA, Redwood City, CA

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