EBay Closes USD 2 B Sale of Skype

World | November 20, 2009, Friday // 09:53|  views

The previously announced sale of a 70 pct stake had been held up by lawsuits. File photo

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.

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Tags: eBay, Skype


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