Microsoft completes $8bn Skype acquisition after EC approval

Microsoft has confirmed the completion of its $8bn acquisition of Skype after the deal was approved by the European Commission last week, although some countries have yet to give their consent to the deal.

The acquisition will see the two firms combine their resources in an effort to help create a series of voice and video products for Microsoft platforms, as the demand from consumers and businesses for video-calling capabilities increases.

Microsoft admitted that some nations have yet to give their approval but seemed confident this is just a formality.

"The acquisition remains under review in a few countries, and will be completed in those countries when such reviews are closed," it said.

Skype chief executive Tony Bates will now become the president of the Skype division of Microsoft, while all Skype staff are to remain in their current positions and locations across the world, including Sweden, Russia and the UK.

Bates said the integration will help Skype work towards its goal of becoming the largest voice and video provider in the world.

"By bringing together the best of Microsoft and the best of Skype, we are committed to empowering consumers and businesses around the globe to connect in new ways," he said.

"Together, we will be able to accelerate Skype's goal to reach one billion users daily."

Microsoft chief executive Steve Ballmer said the deal will help the firm create a new breed of communication products and underlined the firm's desire to improve its mobile portfolio.

"We look forward to working with the Skype team to create new ways for people to stay connected to family, friends, clients and colleagues – anytime, anywhere," he said.

When the deal was announced, analysts said it could work well for Microsoft but added that it would have to work quickly to take advantage of Skype's technology – otherwise the deal would become irrelevant.