EBay (NASDAQ: EBAY) Settles Legal Battle with Skype

Ft Lauderdale, Florida 11/07/2009 01:55 AM GMT (TransWorldNews)

EBay Inc. (NASDAQ: EBAY) 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, according to Associated Press.

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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 stake in the company.

This means that the investor group will own 56 percent of Skype once the deal closes. EBay will own 30 percent.

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