It has been confirmed that Microsoft Corporation (NASDAQ:MSFT) is acquiring Skype for $8.5 billion in cash from major shareholder Silver Lake. The Microsoft and Skype board of directors has approved of the deal. As of the end of 2010, Skype had 170 million users and accounted for 207 billion minutes of voice and video conversations.

Skype CEO Tony Bates has announced that Skype has stabilized again and in order to compensate customers, they are offering vouchers. Audio, video, and instant messaging is now working smoothly again. “Nothing can make up for the missed experiences, but we’re going to be sending our Pay As You Go and Pre-Pay users a Skype Credit voucher via email. The voucher can be used to give you approximately 30 minutes of free calling to landlines anywhere in the world,” said Bates in a blog post. [Skype Blog]

Skype has hired Cisco Systems, Inc. (NASDAQ:CSCO) executive Tony Bates. Bates currently heads Cisco’s commercial and small-business unit, a division that manages $20 billion in annual revenues and 12,500 employees.