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eBay sells Skype for $US1.9 billion

eBay has sold the majority of its stake in VoIP service Skype to a group of private investors in a deal worth $US1.9 billion, according to reports.

eBay said the sale of the 65 percent stake will allow the company to focus more on its auction service and its PayPal electronic payments service.

eBay chief executive John Donahoe said in a statement that the deal will “unlock both immediate and long-term value for eBay and tremendous potential for Skype.”

Donahoe said now that Skype is a separate company, it will have the “focus required to compete effectively in online voice and video communications and accelerate its growth momentum.”

The group buying Skype includes London-based Index Ventures and the Canada Pension Plan Investment Board (CPPIB), along with Silver Lake and Andreessen Horowitz.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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