Microsoft Nabs Skype for USD 8.5 B

Earlier reports that software giant Microsoft is set to purchase internet phone service Skype proved true, as Microsoft acquired Skype for USD 8.5 B Tuesday.

"Skype is a phenomenal service loved by millions across the globe," stated Microsoft CEO Steve Ballmer in a special release.

"Together we will create the future of real time!" according to Ballmer.

The Microsoft CEO explained Skype will now turn into a business unit within Microsoft, headed by current Skype CEO Tony Bates, who will report directly to Ballmer.

The Wall Street Journal had commented that buying Skype would give Microsoft a recognized brand name on the Internet at a time when it is struggling to get more traction in the consumer market.

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