Nortel invests in Global IP Sound

Global IP Sound, the little engine behind Skype and a whole slew of VoIP applications is getting a helping hand from Nortel Networks. The two companies had announced a strategic partnership back in June, and today the two companies announced that NT was going to get about 2.7 million warrants for GIPS common stock. My feeling is that this is the first step towards a complete acquisition of GIPS by Nortel.