San Jose, CA-based eBay Inc. (NASDAQ: EBAY), has completed the announced sale of the communications unit that operates Skype, the software that enables users to make low-cost calls to landlines and mobiles, in a deal valuing the business at $2.75bn.
The buyer is an investor group led by Silver Lake and includes Joltid Limited and affiliated parties, the Canada Pension Plan Investment Board and Andreessen Horowitz. The group will control an approximately 70% stake.
According to an official statement, eBay received approximately $1.9bn in cash and a note from the buyer in the principal amount of $125m. The company, which onws eBay, the world’s largest online marketplace, and PayPal, the service that enables individuals and businesses to send and receive online payments, retained an approximately 30% equity investment in Skype and purchased senior debt securities with a face value of $50m as part of a Skype debt financing.