Microsoft has completed the acquisition of Skype for $8.5bn (estimated £5.2bn) in cash. The agreement has been approved by the boards of directors of both Microsoft and Skype.
Last year Skype had 170 million connected users and over 207 billion minutes of voice and video conversations took place. Microsoft aims to integrate Skype into their other products and services like Xbox and Kinect, Windows Phone and a wide array of Windows devices, and Microsoft will connect Skype users with Lync, Outlook, Xbox Live and other communities.
Microsoft CEO, Steve Ballmer hopes the acquisition will allow them to create the future of real-time communication, he said “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 CEO Tony Bates added “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”.
Skype, founded in 2003, has previously been acquired by ebay and then by investment group led by Silver Lake in November 2009.
Microsoft held a press conference yesterday further outlining their decision behind the acquisition.
