Microsoft Buys Skype for $8.5 Billion in Cash

May 10, 2011

Today, Microsoft Corp. agreed to buy Internet phone service Skype for $8.5 billion in cash. The acquisition presents the most aggressive move yet by Microsoft to play in the increasingly converged worlds of communication, information and entertainment. The money-losing but popular service Skype will become a new business division within Microsoft. Skype allows people to…

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