The founders of internet call service Skype have secured the backing of four private equity firms in a bid to buy back the company from eBay. KKR, Warburg Pincus, Providence and Elevation Partners are reported to support the bid by Niklas Zennstrom and Jannus Friis to win back the company they sold for USD2.6bn four years ago.
Since purchasing Skype, eBay has admitted paying over the odds for the company and has carried out a USD1.4bn write-down on the asset.
Rumours about eBay’s willingness to sell are fuelled by recent comments from CEO John Donahue saying that Skype is a ?great standalone business?. He also admitted that the service is not as compatible with the online auctioneer’s other businesses as was initially hoped. eBay is also coming under pressure from shareholders and analysts to pay out more in dividends.
StrategyEye's related categories: Online Marketplaces, VoIP, Finance - Private Equity
StrategyEye's related companies: Warburg Pincus LLC, Skype, Providence Equity Partners, Elevation Partners, eBay, Kohlberg Kravis Roberts & Co
