Mergers and Acquistions News
Categories: Media & Information Services, Software
October 10th 2011, 12:32PM
Microsoft's takeover of Skype has been welcomed by the European Commission, with the software company announcing that clearance for the acquisition has now been received from both the European Union and the US.
In a statement following the approval, general counsel and executive vice-president of the Microsoft Corporation Brad Smith stated that being given the green light to take over the digital video communications platform is an "important milestone" for the US company.
He said the merger will create new opportunities for people to keep in touch and collaborate no matter where they are in the world.
"We look forward to completing soon the final steps needed to close the acquisition, bringing together the employees of Microsoft and Skype," Mr Smith remarked.
Last week, it was revealed that Microsoft is considering making a takeover bid for search engine Yahoo!.
The site is valued at $18 billion (£12 billion), with sources revealing to Reuters that its board is preparing final pitch books for interested parties.
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