FTC lets Microsoft proceed with purchase of Skype

Jun 19, 2011

The Federal Trade Commission is letting software giant Microsoft Corp. proceed with its largest deal ever, an $8.5 billion bid for web chat and call service Skype.

The FTC announced Friday that it had finished its review of the buyout so it can proceed if the Department of Justice also approves. Both agencies must review any deal worth more than $65.2 million, according to the FTC's website.

Microsoft already has a Skype-like service called Windows Live. But Skype lets users of different kinds of computers and phones chat directly. The deal could let Microsoft sell more and offer more popular business conferencing tools.

Microsoft's bid is more than three times Skype's value 18 months ago when Inc. sold a two-thirds stake to Silver Lake.

Explore further: China's Alibaba plans IPO for week of September 8

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