Recently eBay reached a settlement with Skype founders Niklas Zennstrom and Janus Friis. The lawsuit, which claimed damages in the amount of $75million each day, resulted from allegations that eBay’s sale of Skype significantly violated a licensing agreement. The settlement has made possible the sale of Skype to an international consortium comprised of three (originally four) investment companies; Silver Lake Partners, Andreessen Horowitz, and the Canada Pension Plan Investment Board. Marc Andreessen of Andreessen Horowitz has gone on record stating all issues have been settled and that the company (Skype) is “free and clear to execute to its full potential”.
GigaOM, a business media company linking the world’s leading technology innovators to a global audience of prospective customers, business partners, and investors, had been spreading rumors that a settlement might be reached earlier in the month and the NY Times came on board later, reinforcing those claims.
Mr. Zennstrom and Mr. Friis, through negotiations and a significant layout of their own personal capital have acquired approximately 14% of Skype (up from an original 10% that was reported earlier), giving them the rights to Global Index P2P technology which is controlled by their company Joltid, and which is key to the success of Skype Software. The two also now have representation at the boardroom.
Index Ventures, one of the original four groups in the new investment entity has backed out of the deal. A spokesperson for the long time investor in Skype issued a statement wherein they said they were happy that the litigation surrounding Skype was behind the company and that they wished Josh Silverman, and all other investors great success. Index Ventures cited “changes in the deal terms” as its chief reason for backing out.
56% of Skype now belongs to the internet consortium, with eBay holding on to 30%, and the original owners of Skype taking their 14%. The deal, which values Skype at $2.75 billion, will be finalized at the end of the fourth quarter of 2009.
Post By Lewis Van Tassel
Lewis is an Education Manager for
Omnistar Email Marketing Software