Google confirms $1bn stake in AOL
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Google has being busy lately. LR has reported earlier how Google has showed interest in Opera. Also we reported how Microsoft and Google are going to work together on a internet research lab. Now the BBC is reporting that Google has invested $1bn in AOL. This news my mean Microsoft’s plans to get a piece of AOL is now a lost cause.
Online search engine Google has confirmed it will invest $1bn to take a 5% stake in Time Warner’s AOL unit as part of a major strategic alliance.
The deal, which follows intense negotiations between the two US internet giants, values the troubled AOL unit at $20bn.
AOL is currently Google’s biggest customer. During the first nine months of the year, it accounted for about $429m, or 10%, of Google’s revenue.
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