Silver Lake Partners, L.P., is about to make a huge profit on the largest investment it’s ever made. The private equity shop agreed on May 10 to sell Internet telephone service provider Skype S.à r.l. to Microsoft Corporation for $8.5 billion in cash less than two years after Silver Lake led a group of investors that paid eBay Inc. $1.9 billion for 70 percent of Skype [Big Deals, November 2009].
Silver Lake teamed with Andreessen Horowitz, the Canada Pension Plan Investment Board, and Index Ventures on the deal, a tacit admission by eBay that its own purchase of Skype in 2005 had been a failure. Skype fared better under Silver Lake’s stewardship and was planning on an IPO before agreeing to sell to Microsoft.
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