Surprise $8.5 billion acquisition approved by both company boards.
Popular online voice and video service Skype is now a Microsoft product. The maker of Windows announced the surprising $8.5 billion acquisition this morning, promising Skype is on the way for the Xbox 360 and Kinect.
"Skype is a phenomenal service that is loved by millions of people around the world," Microsoft CEO Steve Ballmer said in a statement. "Together we will create the future of real-time communications so people can easily stay connected to family, friends, clients and colleagues anywhere in the world."
"Skype is a phenomenal service that is loved by millions of people around the world," Microsoft CEO Steve Ballmer said in a statement. "Together we will create the future of real-time communications so people can easily stay connected to family, friends, clients and colleagues anywhere in the world."
The boards of directors for both companies agreed to the deal, and Skype will become a new business division within Microsoft. Skype CEO Tony Bates will lead the division and report directly to Ballmer.
"Microsoft and Skype share the vision of bringing software innovation and products to our customers," Bates said. "Together, we will be able to accelerate Skype's plans to extend our global community and introduce new ways for everyone to communicate and collaborate."
The acquisition must now receive regulatory approvals, and Microsoft said it hopes the deal will be sealed within the calendar year.
The acquisition must now receive regulatory approvals, and Microsoft said it hopes the deal will be sealed within the calendar year.
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