Tags : ebay, Skype
eBay Sells 65% Of Skype For $2.75 Billion
New York, NY (AHN) – Online auction powerhouse eBay has inked a deal to unload 65% of the voice over IP (VoIP) chat client Skype for $2.75 billion. In April, eBay announced plans to spin off Skype after initially acquiring the company in 2005 for $2.6 billion.
Now, eBay confirmed it has struck a deal with an investor group led by Silver Lake that includes Index Ventures, Andreessen Horowitz and the Canada Pension Plan (CPP) Investment Board. The deal includes almost $2 billion in cash and the rest in notes.
“This is a great deal, unlocking both immediate and long-term value for eBay and tremendous potential for Skype,” eBay President and CEO John Donahoe explained. “We’ve acted decisively on a deal that delivers a high valuation, gives us significant cash up-front and lets us retain a meaningful minority stake with talented partners.”
“Skype is a strong standalone business, but it does not have synergies with our e-commerce and online payments businesses. As a separate company, we believe that Skype will have the focus required to compete effectively in online voice and video communications and accelerate its growth momentum,” Donahoe added.
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