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Friday, November 06, 2009
Settlement for eBay, Skype Founders
FOXBusiness
On Friday, eBay (EBAY) announced a settlement with Skype’s founders that will allow the sale of a majority share in the Internet telephone and video communications company to a group of investors for $2 billion.
Skype's founders will retain a 14% stake in the company and remain on the company’s board in exchange for an undetermined cash investment and the withdrawal of lawsuits against eBay.
Private equity shop Silver Lake, venture capital firm Andreessen Horowitz and the Canada Pension Plan Investment Board will together own 56% of Skype, while eBay will own 30%.
Skype’s founders have also agreed to contribute the Joltid software that runs Skype, which was the reason for the original intellectual property lawsuit against eBay after eBay acquired Skype in 2005.
Shares of eBay were flat Friday at $23.30.






