eBay announced that a group of venture capital funds and investors will buy Skype in a deal that values the company at $2.75 billion (US).  The investor group will buy approximately 65% of Skype with eBay retaining 35% ownership.  Skype was acquired by eBay in 2005 for $2.6 billion plus payouts totaling an estimated $3.1 billion in a transaction The New York Times calls “one of the worst technology transactions of the decade.”

It is no surprise that there is no mention of Skype’s legal problems in today’s announcement.  When eBay purchased Skype, it failed to acquire ownership of the software that drives Skype.  Instead, it licensed the peer-to-peer technology from Joltid Limited which is owned by Skype’s founders.  That peer-to-peer technology is now the subject of litigation which has the potential for big trouble in Skype’s future.

eBay reported the details of the impending litigation in their second quarter Q-10 filing with the Securities and Exchange Commission.  The Q-10 filing indicates that Skype has already begun to take precautionary measures in case the lawsuit does not end in their favor.  They have begun to develop alternative software, but indicate that such development is expensive and may not be successful.  The report goes on to state that, “If Skype was to lose the right to use the Joltid software as the result of the litigation, and if alternative software was not available, Skype would be severely and adversely affected and the continued operation of Skype’s business as currently conducted would likely not be possible.”  The trial is currently scheduled for June 2010.

Unless the new investors have made arrangements with Skype’s founders regarding the software licensing litigation, they have just made an investment in eBay’s pain.  Time will tell if this is history repeating itself or a new opportunity for Skype’s growth.

Related articles by Byte Size Updates:

• Investor Group Looks to Acquire Skype
• Skype Litigation May Create Golden Opportunity for Google Voice