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Microsoft has acquired San Francisco based Teleo, a developer of VoIP, PSTN termination and click to call functionality.

The deal accelerates Microsoft’s VoIP capabilities and sets the stage for a fall showdown in the VoIP over IM space as AOL and Yahoo! ramp to launch their respective services as well.

Teleo’s VoIP products allow for PC to PC calls as well as PC to PSTN (define), or landline calls. It also has a click-to-call feature that can be integrated with Microsoft’s Outlook and Internet Explorer, enabling users to place a call from inside e-mail or even a Web page.

“They were doing a lot of things that we found interesting in terms of helping us accelerate the time frame of us being able to bring new things to market for customers,” Brooke Richardson, lead product manager for MSN, told internetnews.com.

Full article: internetnews.com