Microsoft has secured its $8.5bn acquisition of internet telephony firm Skype, after getting approval from both the European Commission (EC) and the US Federal Trade Commission. The deal, was first announced in May this year, marks the introduction of Skype as a new business division within Microsoft. 17/10/2011 “The Skype division will continue to offer […]
Microsoft has secured its $8.5bn acquisition of internet telephony firm Skype, after getting approval from both the European Commission (EC) and the US Federal Trade Commission. The deal, was first announced in May this year, marks the introduction of Skype as a new business division within Microsoft.
17/10/2011
“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,” Microsoft said the statement.
Microsoft secured approval to buy Skype from the US Federal Trade Commission in June 2011. However, before the EC approved Microsoft’s Skype acquisition, it opened an investigation after claims the deal was anti-competitive.
The EC cleared the acquisition under the EU Merger Regulation, saying, “The deal would not significantly impede effective competition in the European Economic Area (EEA).”
The EC added that there were no competition concerns for the video communications market, which has numerous players, such as Google.
Microsoft said the acquisition remains under review in a “few countries”.
