TheTradingReport

Telefonica S.A. (TEF) has decided to acquire VoIP services and application specialist Jajah Inc for a consideration of Euro 145 million or approximately $207 million, in an all-cash transaction. Jajah offers Internet calling that enables its customers to bypass long-distance fees by connecting their calls over the Internet. Industry sources reported that several companies like Cisco System Inc. (CSCO) and Microsoft Corp. (MSFT) were also eyeing to bag Jajah. Telefonica had beat out those two companies in the bidding.