Skype Delays IPO for Microsoft

By Sajid Farooq
|  Monday, May 23, 2011  |  Updated 11:39 AM PDT
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Skype is delaying an IPO to close its deal with Microsoft.

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Microsoft's is already reaping its first reward for spending the most it has ever spent to purchase a company.

Skype canceled its plan for an initial public offering on the heels of LinkedIn's successful public debut.

Microsoft purchased the former eBay-owned VoIP company earlier this month for $8.5 million. They acquisition price was the most the storied tech giant has ever spent to purchase a company.

Skype had filed for an IPO last August but delayed that plan. The company recently expanded with offices in Palo Alto and planned to hire more employees.

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