Microsoft finalises Skype deal
Video chat service company will run as a division of Microsoft
Microsoft has finalised its purchase of internet video chat service Skype for $8.5 billion.
The deal was first announced five months ago and was completed on Thursday.
According to the Press Association, Microsoft has hopes that Skype will help it catch up in the social networking, mobile phone and digital video market segments.
Skype has approximately 170m users worldwide, who created around 207 billion minutes of voice and video calls last year, adding up to almost 400,000 years' worth.
Skype will operate as a division within the Microsoft and Skype CEO Tony Bates is joining Microsoft to run the division and will report to Microsoft CEO Steve Ballmer.