Two significant acquisitions today:

Ebay buys Skype for $2.6 Billion in cash and stock, with additional chances for compensation based on performance.

Oracle buys Siebel for $5.85 Billion.

Admittedly, I've never used Skype and know very little about the company, but $2.6 Billion+ for the company seems like an extremely high valuation. Ebay's made some smart acquisitions in the past, so it'll be interesting how they roll this out in their marketplace.