Microsoft’s $8.5-billion acquisition of internet chat and voice communication firm Skype is expected to conclude on October, according to Skype CEO Tony Bates.
The all-cash deal, announced by Microsoft in May, has already gotten the green light from the U.S. Federal Trade Commission and the go-ahead from the U.S. Department of justice.
Bates says that the Microsoft Skype buyout just needs to pass the European counterpart of the antitrust examination done by the U.S.
Previously, it was also announced that Skype will become its own division inside Microsoft and Bates will become president of the Microsoft Skype division reporting directly to Microsoft CEO Steve Ballmer.
“I’m a peer president to the other five presidents that run the businesses,” the AFP quotes Bates saying at the event.
Furthermore, Bates said that Skype will not be rebranded by Microsoft after the acquisition becomes final.
Bates said that the Microsoft, currently the world’s biggest software developer, is acquiring “one of the greatest brands in the consumer Internet space. It is a verb. People talk about it in that way. They say Skype me … So, you can expect no change.”
“You can expect strong commitment to the brand,” the Skype CEO said.