[size=75:1mfsbwdl]novonite November 20, 2009

EBay Closes USD 2 B Sale of Skype

Online auction giant EBay announced it has completed the sale of its Skype Internet phone unit in a USD 2 B deal.

The buyer group, which will control a stake of about 70%, was led Silver Lake and includes Joltid Ltd., the Canada Pension Plan Investment Board and Andreessen Horowitz.

The previously announced sale had been held up by lawsuits filed by Skype founders Niklas Zennstrom and Janus Friis.

Zennstrom, a Swede, and Friis, a Dane, settled the suits this month and will hold a 14% stake in Skype through their new company, Joltid Ltd.

EBay will retain a 30% equity investment in Skype.

EBay received USD 1.9 B in cash and a note for USD 125 M.

Em this will probably mean Skype will soon no longer be free

I use Skype quite a lot so I hope it remains free otherwise it will cost me a fortune to call my friends in Bulgaria which most times lasts about 2 hours keeping my fingers crossed