Microsoft Paid $8.5b To Acquire Skype
Microsoft announced earlier today they are buying Skype, a leading Internet communications company, for $8.5 billion in cash. The agreement has been approved by the boards of directors of both Microsoft and Skype.
Under this agreement, Skype will become a new business division within Microsoft, and its current chief executive Tony Bates will assume the title of president of the Microsoft Skype Division, reporting directly to Microsoft CEO Steve Ballmer.
