Skype Confirms Qik Acquisition, Estimated at $100M

It’s official: Skype is acquiring Qik, the video-broadcasting service.  We heard rumors of the acquisition this morning, and Skype has just put out a release confirming the deal.  The transaction is expected to close later on this month.  While terms of the deal have not been disclosed, estimates put the acquisition around $100 million.

From the release:

Both Skype and Qik have a common purpose of enriching communications and sharing with video, across any device. The acquisition of Qik helps accelerate Skype’s leadership in video by adding 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 minutes¹, 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.”

Together, Skype and Qik will focus on providing a richer, more integrated experience that will allow people globally to share experiences in real-time video across different platforms, as well as, store those moments so they can be viewed anytime later.

“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.”