Telefonica SA's (TEF, TDE.L) mobile phone unit O2 will buy Israel's voice over IP start-up Jajah for $200 million, according to several media reports.
Jajah is an VoIP startup from Israel that facilitates its users to make long distance calls at the cheapest rates, without necessitating them to buy any headphones, microphones or installing any software.
Jajah has raised $35 million from Deutsche Telekom AG(DT), Intel Capital, Sequoia and other venture capital funds since its founding in 2005, reports noted.
Cisco Systems Inc. (CSCO) and Microsoft Corp.(MSFT) were rumored to have been competing for the VoIP start-up, reports stated.
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