Bought

AT&T has expressed its intention to acquire Interwise, a web conferencing provider, for US$ 121 million in cash, according to Reuters.

The move is a way to bolster the telecom's global customer services. It also nods to the growing popularity of web conferencing, an estimated US$ 5.9 billion industry.

Interwise competes with WebEx, which was bought by Cisco earlier this year for US$ 3.2 billion.