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Network equipment manufacturer Cisco is reportedly looking to buy the internet telephony firm Skype.
According to IT news website TechCrunch, a "reliable source" has revealed that the US firm has made an acquisition offer.
Skype is set to become a public company in the near future and the insider suggested that Cisco is looking to secure a deal before this happens.
According to reports, Skype's owners are hoping to for a valuation of around $5 billion (£3.24 billion) when the firm makes an initial public offering.
"Presumably Cisco would have to bidding in that range to make it interesting," TechCrunch stated.
"Google was also rumoured to be sniffing around Skype, but antitrust concerns may have persuaded them not to make an actual offer."
Skype was first launched in 2003 providing internet users with free video and voice calls over the internet.
It is currently owner by a group of investors led by Silver Lake. It includes auction website eBay and Skype founders Niklas Zennstrom and Janus Friis.
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Last Updated: 31/08/2010 09:35
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