Microsoft Acquires Skype for $8.5 Billion!!

After rumors that initially Facebook and now Microsoft have been considering acquiring Skype, it has been announced recently that the VoIP giant for around $8.5 billion cash has acquired it.

Now, Skype would be incorporated into various Microsoft gadgets and systems such as Outlook, Lync, the Windows Phone, Xbox live, Kinect and Xbox; this has been said in a statement by Microsoft. The corporation has assured that it will continue developing and supporting Skype clients on non-Microsoft platforms as well.

Steve Ballmer, Microsoft CEO with assistance from Charles Songhurst the company’s head of corporate strategy, has spearheaded the deal, and it was completed by Monday evening.

For Microsoft, the acquisition is quite an expensive one. This is one of the largest prices Microsoft Corporation has paid in decades; Skype is not beneficial as yet. Regardless of revenues accumulation $860 million in the previous year and operated profits of approximately $264 million, overall the company lost $6.9 million according to the documents that have been filed with the SEC. moreover, the company is $686 million in debt.

The company is having one of the largest user-base and that is of 663 million out of which 145 make use of Skype on monthly basis.