eBay sells $2bn stake in Skype


eBay sells $2bn stake in Skype

Warwick Ashford

eBay has completed its sale of a majority interest in Skype for almost $2bn to an investor group that includes the founders of the internet phone service.

The deal was concluded when eBay was able to settle a legal skirmish with Skype co-founders Niklas Zennstrom and Janus Friis, which allowed the deal to move forward.

Niklas Zennstrom and Janus Friis are to be board members of the new Skype and will buy a 14% stake in the company.

In exchange, Skype has taken ownership of key peer-to-peer software previously licensed from Joltid, also founded by Zennstrom and Friis.

Silver Lake and other investors, including Andreessen Horowitz, will together hold 56% of Skype, while eBay will retain a 30% stake.

eBay said it is to receive about $1.9bn in cash plus $125m that it will receive at a later date, according to US reports.

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