Yesterday Ebay announced in a press release that it had completed the sale of it's VOIP service Skype after agreeing a settlement with its original creators Niklas Zennström and Janus Friis. The sale went ahead for 2.75 billion dollars to an investment group led by Silver Lake and includes Joltid Limited and other affiliated organisations. Under the ownership of Niklas Zennström and Janus Friis, Joltid were the original owners and creators of Skype until they sold it off to Ebay for around $2.6 billion during 2005.

As part of the deal, Ebay will still hold a 30% equity investment in Skype. Niklas Zennström and Janus Friis will hold a 14 percent stake and rights to the Global Index PS2P technology that their company Joltid holds IP for. This technology is integral to the operation of Skype but during the buyout Ebay failed to ensure control or legitimate access to the technology. This resulted in Jolid threadening legal action as Ebay were using their IP without permission.

However now that everything has been settled the deal to sell Skype has gone forward. Ebay have received $1.9 billion in hard cash and a note form the buyer in the principal amount of $125 million. Ebay also purchased senior debt securities with a face value of $50 million as part of a Skype debt financing.