eBay announced it will sell a 65 percent stake in its Skype communications unit to a group of private investors led by Silicon Valley private equity firm Silver Lake Partners. The investors will pay $1.9 billion for a majority interest in the VoIP service, including a $125 million loan from eBay, which purchased Skype for $2.1 billion in 2005--the new deal values Skype at $2.75 billion. The transaction--which is not subject to a financing condition--is expected to close in the fourth quarter of 2009.
eBay will retain an approximately 35 percent equity investment in Skype. The online auction giant announced in April 2009 it would separate Skype from the company, beginning with an IPO in 2010, but added it would consider bids that offered an attractive valuation. "This deal achieves our goal of delivering short- and long-term value to eBay and its stockholders, without the possible delays and market risk of an IPO," said eBay president and CEO John Donahoe in a prepared statement. "Selling Skype now at this great valuation, while retaining an equity stake, makes sense for the company. And it allows us to focus all of our energies on the opportunities in front of PayPal and eBay."
In addition to Silver Lake Partners, the investment group behind the Skype acquisition includes AndreessenHorowitz, a new venture capital firm headed by Netscape co-founder Marc Andreessen, as well as Index Ventures (a London-based venture capital firm that was an early investor in Skype) and the Canada Pension Plan Investment Board.
For more on the Skype deal:
- read this release [1]
Related articles:
Google denies rejecting Skype [2] app for Android
No push notifications for Skype [3]'s iPhone app
Links:
[1] http://www.fiercewireless.com/press-releases/ebay-inc-signs-definitive-agreement-sell-skype-deal-valuing-communications-business-2
[2] http://www.fiercemobilecontent.com/story/google-denies-rejecting-skype-app-android/2009-08-24
[3] http://www.fiercemobilecontent.com/story/no-push-notifications-skype-iphone-app/2009-07-01