Microsoft Buys Skype for $8.5 Billion.
Just days after reports that Google and Facebook
were interested in partnering with, and possibly buying VoIP company
Skype, Microsoft announced that it was buying the company for $8.56
billion in cash.
Last year, Skype had revenue of $860 million on which it posted an
operating profit of $264 million. However, overall it made a small loss
of $7 million, and had long-term debt of $686 million. This is the
second time Skype has been bought out; after being started in 2003, it
was purchased by eBay in 2005 for $3.1 billion. EBay then sold the
majority of its stake in 2009 to a private investment group for $1.2
billion less than it paid.
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