Qik (Pronounced Quick), which enables mobile phones users to record and stream videos in real time, has around 5 million users. Skype Technologies have acquired Qik with a plan to expand and improve their current mobile video capabilities.
The deal was originally thought to have been around $100 million but sources have recently confirmed it to be in the region of $150 million.
Incredibly Qik had around 600,000 users at the start of 2010 and grew their customer database to 5 million thanks to partnership deals with the likes of Sprint, T-Mobile and Samsung.
The company based in Redwood City, California, was founded in 2006 and had so far raised $8.5 million in funding.
"Mobile is clearly the next frontier of how people want to communicate," Skype chief executive Tony Bates said at a news conference at the Consumer Electronics Show in Las Vegas.
While Qik's Chief Executive Officer, Vijay Tella had this to say “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. Joining Skype allows Qik’s team to unite with Skype’s talented team to develop new and innovative products for our customers and partners.”
Read the full release on Tech Crunch.