Microsoft (MSFT.O) is close to buying internet telephony network Skype in an $8.5 billion deal, a source familiar with the situation said, as it seeks to regain ground on growing rivals such as Google (GOOG.O). Buying the loss-making but popular Skype would underline Microsoft's need to gain new customers and platforms for its software as smartphones and tablets explode in popularity. Skype, which allows people to make calls at no charge, would also give Microsoft a foothold in potentially the lucrative video-conferencing market as global businesses seeking to reduce expenditure shift to lower-cost ways of communicating. Microsoft has already put more energy and resources into mobile and internet technologies as the use of PCs, which underpin its Windows and Office franchise, is under threat.
Microsoft Corporation is engaged in developing, manufacturing, licensing and supporting a range of software products and services for different types of computing devices. Shares of MSFT remained unchanged at $25.83. In the past year, the shares have traded as low as $22.73 and as high as $29.73. On average, 61470900 shares of MSFT exchange hands on a given day and today's volume is recorded at 400.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG remained unchanged at $537.68. In the past year, the shares have traded as low as $433.63 and as high as $642.96. On average, 2799000 shares of GOOG exchange hands on a given day and today's volume is recorded at 0.
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