Is Skype Worth 8.5 Billion?

Seems like this is a done deal. Ebay only paid $2.6 Billion for Skype in 2005. I can't imagine that they've tripled in value since then. I'm not sure what they plan to do with Skype. Here's a good rundown of past Microsoft acquisitions.

Microsoft to Acquire Skype - WSJ.com:

Microsoft Corp. agreed to buy Internet phone company Skype Technologies SA for $8.5 billion in cash—the most aggressive move yet by Microsoft to play in the increasingly converged worlds of communication, information and entertainment.

"Skype is a phenomenal service that is loved by millions of people around the world," said Microsoft Chief Executive Steve Ballmer in a statement announcing the deal Tuesday. "Together we will create the future of real-time communications so people can easily stay connected to family, friends, clients and colleagues anywhere in the world."

Skype will become a new business division within Microsoft, and Skype Chief Executive Tony Bates will assume the title of president of the Microsoft Skype Division, reporting directly to Mr. Ballmer.