Skype founders drop licence threat against eBay2009-11-09 09:29 by DanielaTags: Skype, eBay, VoIP
A legal row that threatened the existence of Skype has been settled, with the free net phone service's founders regaining a significant portion of the firm from eBay. Niklas Zennström and Janus Friis will get 14 per cent of Skype and seats on its board under the deal, announced today. In return the pair will make a "significant" cash investment and transfer ownership of the proprietory peer to peer software that powers the service to Skype. The had sued eBay for using the code - owned by Joltid Ltd, their holding company - without a licence. In July eBay said in a regulatory filing the attack had prompted it to attempt developing replacement software but said it "may result in loss of functionality or customers even if successful". As well as threatening Skype's continued operation, the case blocked eBay's attempts to spin off the company, which it bought from Zennstrom and Friis for $2.6bn in 2005. As a result of today's settlement the online auction house will retain 30 per cent, and private equity firms 56 per cent. Once the sell off is complete, eBay will receive $1.9bn. Read more -here-
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