Microsoft buys skype for $8.5 billion

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Microsoft Skype
Moscow, Oct 14: Software giant Microsoft Corporation on Friday (Today) has bought the Internet Communication company, Skype Communication for $8.5 billion in its biggest acquisitions deal.

"Skype is a phenomenal product and brand that is loved by hundreds of millions of people around the world. We look forward to working with the Skype team to create new ways for people to stay connected to family, friends, clients and colleagues - anytime, anywhere," said in a statement by Microsoft CEO Steve Ballmer.

With the new acquisition, Skype's CEO Tony Bates will head the Skype divisions in Microsoft. "By bringing together the best of Microsoft and the best of Skype, we are committed to empowering consumers and businesses around the globe to connect in new ways. Together, we will be able to accelerate Skype's goal to reach one billion users daily," said Bates.

Skype is a software application that offers users to make voice and video calls and chats over the Internet. It has also some value added services (VAS) like instant messaging, file transfer, and videoconferencing.

The Skype was founded in 2003 and has 633 million registered users as of September, 2011.

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