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< Wall Street Protesters
Oct 14, 2011 18:09
Category: General News

Microsoft Buys Skype

     REDMOND, Wash. (AP) - Internet video chat service Skype is now
officially a part of Microsoft.
     The two companies joined forces late Thursday when Microsoft
Corp. completed its $8.5 billion purchase of Skype. The closing
came five months after Microsoft announced the deal.
     Microsoft is counting on Skype to help it catch up in some the
hottest markets in technology and media. Those areas include online
socializing, mobile phones and digital video.
     Skype's roughly 170 million users made 207 billion minutes of
voice and video calls last year - almost 400,000 years' worth.
     Microsoft says Skype will operate as a division within the
world's largest software maker. Skype CEO Tony Bates is joining
Microsoft to run the division. He will report to Microsoft CEO
Steve Ballmer.
     Microsoft shares rose 5 cents to $27.23 in afternoon trading.