Venice Project

Online auction giant eBay announced it had completed its sale of Skype to an investment group that includes the two founders of the Web communications company. The previously announced sale of a 70 percent stake in Skype for some two billion dollars had been held up by lawsuits filed by Skype founders Niklas Zennstrom and Janus Friis. Zennstrom, a Swede, and Friis, a Dane, settled the suits this month and will hold a 14 percent stake in Skype through their new company, Joltid Ltd. Fifty-six percent will be held by an investor group led by private equity firm Silver Lake Partners, the Canada Pension ... Read Full Story

EBay has completed its sale of Skype for about $2 billion to an investor group that included the founders of the Internet phone service. Last week, the online auction site settled a legal skirmish with co-founders Niklas Zennstrom and Janus Friis which allowed the deal to move forward. The settlement gave Skype ownership of critical software that had been licensed from the company they founded, Joltid Ltd. Ebay said Thursday it sold a 70 percent stake in the company for about $1.9 billion plus $125 million that it will receive at a later date. The company is keeping the remaining 30 percent stake. The ... Read Full Story

EBay Inc. says a group of investors who are buying the majority of its telecommunications service, Skype, agreed to settle a legal skirmish with Skype's founders. The online marketplace operator said Friday the settlement gives Skype ownership of software that had in the past been licensed from Joltid Ltd. — a company that was founded by Skype co-founders Niklas Zennstrom and Janus Friis. It also settles lawsuits that had been filed against the investor group and eBay once the sale of Skype is completed. Under the settlement, Zennstrom and Friis will become part of the investor group buying Skype and get a 14 percent ... Read Full Story

SAN FRANCISCO (Reuters) - The founders of Skype have sued owner eBay Inc and an investor group that has agreed to buy the Webphone service, accusing them of copyright violation and potentially disrupting the $1.9 billion deal. The lawsuit brought by Joltid Ltd, a Swedish firm owned by Skype founders Niklas Zennstrom and Janus Friis, says Skype used its technology without authorization. It comes on the heels of a legal dispute between Joltid and Skype in Britain over software rights. Filed in Northern California U.S. District Court this week, the latest suit seeks a permanent injunction against Skype and damages. EBay has denied the ... Read Full Story

NEW YORK (Reuters) - The founders of Skype are suing its owner eBay Inc and the investor group that has agreed to buy the Internet telephone service, alleging theft of technology, according to the Wall Street Journal. The suit, which could complicate eBay's $1.9 billion sale of a 65 percent stake in Skype, was brought by Joltid Ltd, a company owned by Skype founders Niklas Zennstrom and Janus Friis. EBay's deal to sell its majority stake valued Skype at $2.75 billion but that was well below the $3.1 billion eBay spent in acquiring Skype. Joltid controls key peer-to-peer technology behind Skype, and the two ... Read Full Story