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Microsoft Closes Skype Acquisition

By Josh Long
October 17, 2011 - News

Microsoft Corp. last week announced closing its $8.5 billion acquisition of Skype, strengthening the Redmond, Wash.-based computer giant's standing in the communications business.

Skype has become a business division within Microsoft, and Skype CEO Tony Bates will lead the division as president and report directly to Microsoft CEO Steve Ballmer.

Founded in 2003, Luxembourg-based Skype helped virtually bring together relatives and friends from around the world by offering software that has enabled millions of people to chat for free over their computers. Skype has transformed into one of the world’s most visible communications companies with 30 million users online at peak times, and the company offers a range of services from computer-to-computer calling to video calls on certain Internet-connected Panasonic, Sony and Samsung televisions.

Bates said the Microsoft deal will help Skype accelerate a goal of attracting 1 billion users daily.

The acquisition is Microsoft’s largest in its 36-year history.

Although the blockbuster deal has closed, Microsoft noted that it remains under review in a few countries.

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