It’s okay to throw the confetti now. Internet communications company Skype is officially a division of Microsoft Corp., now that the $8.5 billion deal announced on May 10 has closed. Tony Bates, who had been Skype’s CEO, becomes president of the newly created Skype Division of Microsoft effective immediately, in which position he reports directly to Microsoft CEO Steve Ballmer.

“Skype is a phenomenal product and brand that is loved by hundreds of millions of people around the world,” Ballmer said. “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.”

There won’t be any changes to Skype’s services for the time being, but going forward Skype will also be integrated into a broad range of Microsoft products and services to transform real-time communications for consumers and enterprise customers. The acquisition remains under review in a few countries, however.

“We’ve only scratched the surface. We’re at the starting line of integrating world-class talent, innovative technologies and products,” Bates said in a blog post. “By bringing together the best of Microsoft and the best of Skype, we’ll deliver amazing new experiences for consumers and business around the world.”

Founded in 2003, Skype was acquired by eBay in September 2005, and then acquired by an investment group led by Silver Lake in November 2009. Other members of the selling investor group include eBay International AG, CPP Investment Board, Joltid Ltd. in partnership with Europlay Capital Advisors, and Andreessen Horowitz.

Related links:

Tony Bates’ blog post –