FTC gives green light to Microsoft-Skype deal
Microsoft is slowly making progress in its attempt to close its largest deal ever, the $8.5 billion purchase of internet chat and telephony company Skype. The Federal Trade Commission has signed off on the acquisition and next up is the Department of Justice. On deals valued at $65.2 million or more, both agencies must approve the transaction before it closes.
Microsoft has amassed a fabled mountain of cash and is paying three times the valuation of Skype a mere 18 months ago when private equity investment firm Silver Lake bought a 67% stake in the company from eBay. Although Redmond based Microsoft already offers a similar service called Windows Live, Skype lets users connect using different mobile platforms on their phones. Purchasing Skype could allow Microsoft to offer business users more types of business conferencing tools and sell more digital advertising.
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