Microsoft Completes Acquisition of Skype

October 14, 2011 Updated Oct 14, 2011 at 2:46 PM EDT

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Microsoft Completes Acquisition of Skype

October 14, 2011 Updated Oct 14, 2011 at 2:46 PM EDT

Microsoft on Thursday announced via a news release that it had completed its $8.5 billion acquisition of Skype.

According to the news release: 

Microsoft and Skype will remain focused on their shared goal of connecting all people across all devices and accelerating both companies’ efforts to transform real-time communications for consumers and enterprise customers. The completion of the acquisition also marks the official introduction of Skype as a new business division within Microsoft.

“Skype is a phenomenal product and brand that is loved by hundreds of millions of people around the world,” said Microsoft CEO Steve Ballmer. “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.”

Skype CEO Tony Bates will assume the title of president of the Skype Division of Microsoft immediately, reporting directly to Ballmer. The Skype division will continue to offer its current products to millions of users globally. Longer term, Skype will also be integrated across an array of Microsoft products to broaden Skype’s reach and accelerate its growth as a fundamental way people communicate online. Skype employees will continue to be located around the world in offices including Estonia, the Czech Republic, Russia, Sweden, the United Kingdom, Luxembourg, Japan, Singapore, Hong Kong, and the United States.

“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,” Bates said. “Together, we will be able to accelerate Skype’s goal to reach 1 billion users daily,” Bates said.

Read the Microsoft news release HERE.