Microsoft Buys Skype

After a great deal of recent speculation that the VOIP Skype may be an acquisition target by one of the leading It giants, it has now been revealed that the deal is done and Microsoft has emerged victorious acquiring Skype for a massive $8.5 Billion dollars.
This is an extraordinary amount to pay when you consider that its value remains somewhat speculative given that despite generating revenue of $860 million in 2010, the company made an overall loss of almost $7 million and is saddled with an overall debt of nearly $700 million.
Microsoft recently revealed that Skype now has almost 700 million users of which 9 million are paying customers.
Skype will now be integrated into Microsoft devices and systems such as Xbox, Outlook and the Windows Phone. The company has additionally also committed to continuing its support in developing Skype clients on non-Microsoft platforms