AOL buys Bebo for a cool $850 million

AOL has acquired Bebo, the world’s third-favourite social networking website (with 40 million members), for $850 million, following News Corporation’s acquisition of MySpace back in late 2005.

Time Warner’s chief executive Jeff Bewkes went on record earlier this week hinting at the deal, saying: “Would something really added to AOL, or AOL added to something else, make it stronger and more valuable? We can’t rule it out… It’s our obligation to try to make sure AOL gets in whatever configuration makes it the strongest and the most valuable.”

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Thursday, March 13th, 2008

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Nokia Buys Mapping Service for US $8.1 Billion

Nokia Corp. has agreed to buy the digital mapping company Navteq for US$8.1 billion, supporting a plan to add navigation capabilities to more of its devices.

The acquisition, announced Monday, also helps Nokia to grow the services side of its business at a time when profits from mobile phones are being squeezed.

Navteq provides the digital maps behind Mapquest Inc. and other online services, as well as for navigation systems from Garmin

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Friday, February 1st, 2008

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