Microsoft buys Skype for $8.5 billion that in 2005 was $3 billion
U.S. technology giant Microsoft has purchased Internet communications service Skype for $8.5 billion.
The deal is the biggest in Microsoft's 36-year history and is expected to help the company compete against rivals such as Google and Apple, who have each made inroads into such products as smartphones and tablet computers.
Luxembourg-based Skype provides free or low-cost voice and video calling services over the Internet to hundreds of millions of customers worldwide. It has struggled to turn a profit since its founding in 2003. Online auction giant eBay purchased Skype in 2005 for about $3 billion, but sold most of its stake in 2009.
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