updated 12:45 pm EDT, Fri October 7, 2011
Skype buyout by Microsoft approved by EU
Microsoft's $8.5 billion purchase of Skype has been approved on Friday by the European Commission. The software giant's largest-ever buy was announced in May and received the blessing of the US Federal Trade Commission back in June. The European Commission found that the two companies overlap in video communications and there are no competition concerns regarding the acquisition.
Microsoft offers communications using Windows Live Messenger, and the deal should bring new customers to Microsoft's Windows and Office software along with Windows Phone hardware. Skype lets users hold text, video and voice chats, with free chats of any kind between two Skype users.
Concerns arose that through the deal, Microsoft would cut off Skype support from Android and iPhone platforms. Google was also bidding for Skype, though it stopped at $4 billion.