Four months after announcing plans to spin-off its Skype Internet phone business, eBay agreed this week to sell a 65% stake in the unit to an investment group led by private equity firm Silver Lake Partners for $2.75 billion in cash and bonds. Announced on Tuesday, the pact ends eBay’s four-year stint at the helm of Skype, which boasts more than 480 million registered users worldwide. In addition to Silver Lake, members of the buyout group include venture capital firms Index Ventures and Andreessen Horowitz and the Canada Pension Plan Investment Board. The purchase price agreed to by the parties works out to be slightly less than the $3.1 billion that eBay paid to acquire Skype in 2005. At that time, eBay had hoped that Skype’s free Internet calling service would facilitate communications between buyers and sellers that use eBay’s auction web site. EBay CEO John Donahoe has since acknowledged, however, that Skype “does not have synergies with our e-commerce and online payments business.” As he announced intentions last April to spin off Skype through an initial public offering to take place next year, Donahoe also said that his company would consider bids that offered “an attractive valuation.” Through the deal, eBay would receive $1.9 billion in cash and $125 million in bonds while retaining a 35% equity stake in Skype. The parties aim to complete the transaction by year’s end. As Skype CEO Josh Silverman praised the buyers’ “strong track record of taking the technology firms they own to the next level,” Donahoe described the transaction as “a great deal, unlocking both immediate and long-term value for eBay and tremendous potential for Skype.”