From Facebook blog,
Bring Your Conversations to Life
Video chat has been around for years now, but it’s still not an everyday activity for most people. Sometimes it’s too difficult to set up, or the friends you want to talk to are on different services.
So a few months ago, we started working with Skype to bring video calling to Facebook. We built it right into chat, so all your conversations start from the same place. To call your friend, just click the video call button at the top of your chat window.
Talk to friends around the world right from Facebook.
For those of us who have been working on this, it’s particularly exciting to bring video calling to over 750 million people. We’re making this available in over 70 different languages, so friends can stay in touch all over the world.
Video calling will be available to everyone over the next few weeks, but if you don’t want to wait, you can get it now.
From Skype Blog,
Just a few weeks ago, Skype announced the ability to IM your Facebook friends or to ‘Like’ and comment on a Facebook status directly from Skype. Today, we are excited to announce that Skype’s partnership with Facebook goes even further, as we are now making it possible to video chat with your friends right from within Facebook. This is an exciting step for us as it represents Skype’s first big step on the Web, and because we know this has the potential to unlock even more conversations and make the experience on the Web even more social.
The partnership with Facebook makes fantastic business sense for Skype and gives us an unprecedented opportunity to offer Skype’s voice and video calling products to more than 750 million active users on Facebook.
Together, we’ve collaborated to create a great user experience — with Skype providing an optimized version of its software and Facebook embedding the Skype calling experience deeply into their site, allowing Facebook users to enjoy the many benefits of video calling.
As rumoured over a long time, Facebook have atlast announced their Video calling feature powered by Skype.
FYI, Microsoft is buying Skype and expecting regulatory approvals.