Internet phone service

Microsoft is about to finalize a deal to purchase Internet phone company Skype Technologies for more than US$7 billion, reports the Wall Street Journal. The deal may be announced today.

With the acquisition Microsoft would have a recognized brand name on the Internet just in time as it is struggling to have more share in the consumer market, The Wall Street Journal said in a report late Monday.

Microsoft and Skype could not be immediately reached for comment. Both companies declined to comment to the WSJ.