eBay closes Skype sale
eBay completed the sale of its Skype unit in a deal valuing the business at $2.75 billion.
The buyer, who will control an approximately 70 percent stake, is an investor group led by Silver Lake and includes Skype co-founders' Joltid Limited and certain affiliated parties, the Canada Pension Plan Investment Board and Andreessen Horowitz.
eBay says it received about $1.9 billion in cash and a note from the buyer in the principal amount of $125 million. The company retains an equity investment of about 30 percent in Skype. The company also purchased senior debt securities with a face value of $50 million as part of a Skype debt financing.
Paving the way for the closure of the deal, eBay earlier this month reached a settlement with Joltid and Joost N.V. over software licensing. As part of the settlement, Joltid and Skype founders Niklas Zennström and Janus Friis received a 14 percent stake in Skype.