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Digital Sky Talking With AOL About ICQ Acquistion

Posted Wed, 16/12/2009 - 23:24 by Invest-IQ Team

Fresh from a spin-off from Time Warner, AOL's Tim Armstrong is looking to sell the ICQ instant-messaging service for a possible USD 200 million to USD 300 million. Digital Sky Technologies, the global internet holding company, is currently engaged in negotiations with AOL though they are still in the early stages.

Mirabilis, the parent company of ICQ, was acquired by AOL some eleven years ago for an estimated USD 407million. While subscription-based services are the cornerstone of AOL's business, the company is attempting to make the move into a digital media and advertising model, facilitating the ICQ sale as well as the possible sale of Bebo, a social networking portal also owned by them.

ICQ
ICQ is an instant messaging service originally designed by Mirabilis to provide a means of linking Windows-based computers around the world. The first launch of the software in 1996 realized such great success; AOL purchased the company in 1998. Today ICQ is used around the world in sixteen different languages by more than 33 million users. The Tel Aviv-based company employs nearly 200 people.