Microsoft has been given the go-ahead to buy Skype following approval from the powers that be in the US.

The Federal Trade Commission’s approval on Friday means that Microsoft can now buy Skype for the $8.5 billion it offered and get working on integrating the new service into it’s corporate structure.

Microsoft shocked the industry back in May when it announced that it had put in an offer for the Internet telephony company that has yet to make a profit even though it has over 145 million users.

It also means that Microsoft now owns around 60 per cent of the instant messaging market, no doubt much to the annoyance of Apple and Google.

Microsoft has said that it will continue to support other platforms outside of Microsoft’s own Windows, Windows Phone 7, and Xbox Live services, however it will no doubt worry some who believe that might not be the case in the long term.

Many experts aren’t sure what Microsoft has in store for the VoIP service, however we believe that it will be finding its way on to the Xbox 360 to be integrated into the Xbox Live service very quickly. Combined with the company’s Kinect controller it would give Microsoft a huge lead in telephony in the home, and mean allow it to turn the console into a communications device as well as a games console.

What do you think Microsoft has in store? Let us know in the comments below