Mergers and Acquistions News
Categories: Media & Information Services
May 11th 2011, 9:08AM
The former owners of Skype have made a pretty penny in their sale to Microsoft, having recouped three times the amount they paid for the site in the first place.
Microsoft has paid a total of around $8.5 billion (£5.1 billion) for the online phone and video calling service in the deal finalised on Monday, leaving the outside investors which owned the majority stake in the company with a healthy $5 billion profit.
Considering the group owned the service for only 18 months, the profit can be seen as particularly impressive, Reuters reported.
Several large media companies, including Google and Facebook, have expressed interest in Skype in recent months, which may have pushed up the asking price for the site as bosses wondered if they could get more for their company, the news provider said.
Skype offers video calls between users and calls to landlines and mobiles at local rate. It is used by more than 405 million people around the world.
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