Microsoft Closes $8.5 Billion Skype Deal

Microsoft said late on Thursday that it has completed its deal to acquire internet calling leader Skype for $8.5 billion.

With the closing of the deal, which was announced back in May, Skype will become a new business unit within Microsoft with Skype CEO Tony Bates becoming the president of the newly created Skype division. Over time, Microsoft said it will integrate Skype into a variety of its products.