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Microsoft, Skype Deal Is Through

Software giant Microsoft has finally closed the $8.5 billion acquisition of VoIP services provider Skype after the European Union gave it the nod of approval.

The acquisition will not only make the Windows maker a force to be reckoned with the global online communications market, it would also allow it to integrate Skype’s VoIP technology into its Windows Phone 7 platform and Xbox 360 gaming console reports Slashgear.

"Skype is a phenomenal product and brand that is loved by hundreds of millions of people around the world," Microsoft CEO Steve Ballmer said in a statement late last night.

"We look forward to working with the Skype team to create new ways for people to stay connected to family, friends, clients and colleagues--anytime, anywhere." he added.

The company had first announced its intentions of acquiring Skype back in May, and after the US regulators gave it the go ahead, it was only a matter of time before European Union regulators gave their approval. The acquisition is the single biggest in the history of Microsoft and surprised many industry watchers.

Skype had announced earlier that it had more than 65 million daily users, which spent 700 million minutes on Skype calls daily and 300 million minutes of video calls.

More here on Microsoft Official Blog.