The much talked about deal between Microsoft and Skype is finally complete. Skype CEO has posted an official statement on The Official Microsoft Blog

I am delighted to announce the deal with Microsoft has formally closed, and Skype is now a division of Microsoft. This represents a huge leap forward in Skype’s mission to be the communications choice for a billion people every day. Joining forces with Microsoft is the best way to accelerate this mission and capitalize on our position at the intersection of social, mobile and video communications. Simply put, we want to transform communications. We will do this by building the best products in the world that allow all of us to do things together whenever we’re apart and by creating teams who work faster and smarter across the globe building those world-class products.

Microsoft simultaneously posted a press release on Microsoft.com.

REDMOND, Wash., and LUXEMBOURG — Oct. 13, 2011 — Microsoft Corp. (Nasdaq “MSFT”) has closed its acquisition of Skype Global S.à r.l. Negotiations of the definitive agreement under which Microsoft would acquire Skype, an Internet communications company, for $8.5 billion were led by investor group Silver Lake and the transaction was originally announced on May 10, 2011. Boards of directors of both Microsoft and Skype previously approved the acquisition.  The Internet has changed video calling for millions of people. Explore some of the numbers and stats showing the scope and impact of how Skype is helping people stay connected. Microsoft and Skype will remain focused on their shared goal of connecting all people across all devices and accelerating both companies’ efforts to transform real-time communications for consumers and enterprise customers. The completion of the acquisition also marks the official introduction of Skype as a new business division within Microsoft. “Skype is a phenomenal product and brand that is loved by hundreds of millions of people around the world,” said Microsoft CEO Steve Ballmer. “We look forward to working with the Skype team to create new ways for people to stay connected to family, friends, clients and colleagues — anytime, anywhere.”

What does this mean for the future?

It has been rumored that Skype will be fully integrated into Windows phone and Windows OS (Desktop). Microsoft has also promised to allow Skype to be developed for other systems (Android, iOS, etc.).