Deals done this past week

24 May 201037 Views

An overview of the week in deals in the Irish technology sector, including internet search giant Google’s acquisition of Global IP Solutions, and Facebook and Zynga’s five-year strategic deal.

Google acquires Global IP Solutions for US$68.2m

In an effort that suggests Google could be a major player in the transit of audio and video over IP into the future, the search giant has made an all-cash offer to buy Norwegian firm Global IP Solutions (GIPS) for US$68.2m.

Google’s wholly owned subsidiary Google Acquisition Holdings has made a recommended voluntary public cash offer to acquire all the issued and to be issued shares of GIPS for NOK 13.0 (USD 2.12) in cash per share, or an aggregate price of about US$68.2m based on the currently issued and outstanding share capital of GIPS.

Global IP Solutions is the recognised leader in world-class voice and video processing technology for IP networks.

Facebook and Zynga sign five-year strategic deal

FarmVille game creator Zynga is once again friends with Facebook, and to prove it the two companies entered into a five-year strategic alliance around social gaming on Facebook and that expands the use of Facebook Credits in Zynga’s games.

The deal comes after rumours that said Facebook and Zynga were considering going separate ways over an alleged falling out over the very Facebook Credits that are part of the five-year deal.

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Facebook is itching to get into the world of virtual currency and needs a strong partner like Zynga, which already has a successful financial model built around games like FarmVille, Mafia Wars and Café World.

Magnet forges global broadband deal with BSkyB

BSkyB’s international broadband arm Easynet has signed up DSL and fibre provider Magnet Networks as its dedicated Irish partner for basic data and voice services to fully managed networks, it has emerged.

The aim of the partnership is to provide businesses with operations in Ireland greater cost efficiencies, improved network coverage and a reduced supply chain. The partnership allows international companies based in Ireland to integrate with the global Easynet network.

Major Polish hotels deal for Irish firm

An Irish business process services firm has won a major six-figure contract to supply reservation services to Poland’s largest hotel network. SouthWestern said the three-year, six-figure deal with Orbis Hotels will be managed by the its facility in Lodz in central Poland and supported by its Cork operations in Clonakilty and Bandon.

SouthWestern will provide reservation services in both English and Polish for Orbis clients who can book hotels in Poland and other European countries.