Acquisition of Skype

Skadden is representing Niklas Zennström and Janus Friis, the founders of Skype, who along with a consortium of private equity and venture capital firms led by Silver Lake, have purchased Skype from eBay in a transaction valued at $2.75 billion. Affiliates of Zennström and Friis had previously filed lawsuits against Skype, eBay and the buyout group alleging intellectual property infringement. After three weeks of negotiations, all parties agreed to a settlement that permitted the transaction to close November 19, 2009, with our clients receiving a minority equity interest in Skype.