With the approval from the European Commission, the much-talked about acquisition of VoIP service provider Skype by Microsoft for $8.5 billion, is finally going to take place in very near future.
The Financial Times reported that Joaquín Almunia, the Competition commissioner of European Union is going to give a green light to the acquisition.
The report of the Financial Times further notes that without any requirement of a second round of probe, Almunia may approve the deal of acquisition. This indicated that the governing body is discarding the feeling that the deal will stifle competition.
The news of the acquisition came in May when Microsoft revealed its plan to acquire Skype in a deal worth $8.5 billion.
The term of the deal says that after the acquisition Skype will become a division of the Microsoft within its operation which is led by the current CEO Steve Ballmer.
Hoping to close the deal by the end of this year, Microsoft also revealed its plan to, “connect Skype users with Lync, Outlook, Xbox Live and other communities.”
The Federal Trade Commission of U.S. approved this deal earlier on the ground that it will not affect competition in the marketplace. Their claim is based on the fact that Microsoft would be facing competition from Google talk, and on the video chat, Apple’s FaceTime platform along with many other VoIP service providers.