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Posted on May 10, 2011 | tags

 
 

Tech: Report: Skype held out for their magic number — $7 billion

  • Microsoft really wanted this. Microsoft right now is trying to do things to keep up with other faster-growing technology companies.
  • Bahl & Gaynor Inc. money manager Matt McCormick • Explaining why Microsoft went after Skype — offering a reported $8.5 billion for the company. They offered that much because they had to. Skype reportedly rebuffed any offers that were less than $7 billion. Steve Ballmer, during the announcement of the deal, suggested that the technology would be used for, among other things, its Xbox console, Office technology, Windows Mobile phones (where they could gain a real advantage, by the way) and corporate phone software. Skype is so widely-used that Microsoft could be sitting on the next generation of phone technology — something they need to stay in the game. (Also, a side note: Google was the only other serious bidder, but they didn’t get close to $7 billion.) source
 
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