Microsoft Gets Thumbs Up on Skype Acquisition
UPDATE: On October 14th Microsoft and Skype announced that the acquisition formally closed and Skype officially became a division of Microsoft. Skype CEO Tony Bates assumed the title of president of the Skype Division of Microsoft. He will report directly to Microsoft CEO Steve Ballmer.
Back in May we were reporting that Microsoft entered a definitive agreement to acquire Skype for the sum of $8.5 billion in cash. Microsoft’s board of directors and Skype’s board of directors approved the acquisition agreement and awaited the regulators to approve the acquisition agreement as well.
And so we get to the news: earlier this month Microsoft announced that antitrust regulators in the EU (European Union) gave the acquisition the go ahead. European competition commissioner Joaquín Almunia approved the deal with no objections. The European Commission said in a statement that it considers there are no competition concerns, so Microsoft can go ahead with the Skype acquisition.
Brad Smith, General Counsel and Executive Vice President, Microsoft Corporation, released this statement in regards to the fact that the European Commission approved the Skype acquisition:
“We’re pleased that the European Commission has approved Microsoft’s acquisition of Skype. This is an important milestone, as we’ve now received clearance from both the United States and the European Union. We look forward to completing soon the final steps needed to close the acquisition, bringing together the employees of Microsoft and Skype, and creating new opportunities for people to communicate and collaborate around the world.”
Microsoft explained that by acquiring Skype it will be able to enhance its existing portfolio of real-time communications products and services. Skype explained that by being acquired by Microsoft, its world-class brand will be extended and its networked platform will gain new reach; as Tony Bates, Skype CEO who will become President of the Microsoft Skype Division put it, the acquisition will allow Skype to introduce new ways for everyone to communicate and collaborate.
"Skype is a phenomenal service that is loved by millions of people around the world," said Microsoft CEO Steve Ballmer. "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.”
Back in May we were reporting that Microsoft entered a definitive agreement to acquire Skype for the sum of $8.5 billion in cash. Microsoft’s board of directors and Skype’s board of directors approved the acquisition agreement and awaited the regulators to approve the acquisition agreement as well.
And so we get to the news: earlier this month Microsoft announced that antitrust regulators in the EU (European Union) gave the acquisition the go ahead. European competition commissioner Joaquín Almunia approved the deal with no objections. The European Commission said in a statement that it considers there are no competition concerns, so Microsoft can go ahead with the Skype acquisition.
Brad Smith, General Counsel and Executive Vice President, Microsoft Corporation, released this statement in regards to the fact that the European Commission approved the Skype acquisition:
“We’re pleased that the European Commission has approved Microsoft’s acquisition of Skype. This is an important milestone, as we’ve now received clearance from both the United States and the European Union. We look forward to completing soon the final steps needed to close the acquisition, bringing together the employees of Microsoft and Skype, and creating new opportunities for people to communicate and collaborate around the world.”
Microsoft explained that by acquiring Skype it will be able to enhance its existing portfolio of real-time communications products and services. Skype explained that by being acquired by Microsoft, its world-class brand will be extended and its networked platform will gain new reach; as Tony Bates, Skype CEO who will become President of the Microsoft Skype Division put it, the acquisition will allow Skype to introduce new ways for everyone to communicate and collaborate.
"Skype is a phenomenal service that is loved by millions of people around the world," said Microsoft CEO Steve Ballmer. "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.”
