Microsoft buys Skype for $8.5 billion, will support Xbox and Kinect

Microsoft's announced that its bought VOIP chat service Skype for $8.5 billion.

The press release just released by MS says that the program will support Xbox and Kinect, as well as "connect" Skype users on Xbox Live.

"Skype is a phenomenal service that is loved by millions of people around the world," said Microsoft CEO Steve Ballmer. "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."

Microsoft says that it'll continue to "invest in and support" Skype, which will fall in at the company under a new division known as the Microsoft Skype Division, on "non-Microsoft platforms." The service was introduced for PSP back in 2008.