Friday, October 14, 2011

Microsoft Completes Acquisition of Skype

Redmond-based Microsoft Corp. said last night that it has officially closed its acquisition of Skype, the voice-over-IP, Internet phone and communications service. Microsoft agreed to pay $8.5 billion for Skype back in May, but has been working through a number of regulatory hurdles to complete the deal. Microsoft said that Skype will operate as a new business division of the firm, headed up by Tony Bates, who was most recently CEO of Skype. Skype had been owned by an investment group led by Silver Lake, which also included eBay International AG, CPP Investment Board, Joltid Ltd. in partnership with Europlay Capital Advisors; and Andreessen Horowitz. That investor group had acquired Skype from eBay in November of 2009.