04-29-2010, 10:32 AM
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Confirmed User
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Join Date: Nov 2002
Location: San Francisco
Posts: 5,653
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AOL Sells ICQ to Russian investors for $187.5 million
Quote:
MOSCOW & NEW YORK--(BUSINESS WIRE)--AOL Inc. (NYSE:AOL - News) and Digital Sky Technologies Limited (DST), the largest Internet company in the Russian-speaking and Eastern European markets, announced today that they have reached an agreement for DST to acquire ICQ ? the leading instant messaging service in Russia and a number of other international markets ? for $187.5 million.
ICQ was created in 1996 by the Israeli company Mirabilis. AOL acquired the assets of Mirabilis, primarily ICQ, in June 1998. Available in 16 languages, ICQ has more than 32 million unique visitors per month.* Approximately 80 percent of ICQ users are between the ages of 13 and 29 and spend an average of more than five hours a day connected to the service, according to internal data. ICQ has built a successful presence in markets like Russia, Germany, Czech Republic and Israel.
?The acquisition of ICQ is a strategic enhancement of our business in Russia and Eastern Europe. ICQ?s long-standing brand name and its sizeable loyal customer base together represent a very attractive opportunity to further strengthen our position in the region,? said Yuri Milner, Chief Executive Officer of DST.
?As AOL continues its turnaround effort, we?re fortunate to find a great home for ICQ with DST,? said Tim Armstrong, Chairman and Chief Executive Officer of AOL. ?DST is a leading innovator in the Internet investment space and has a significant presence in the markets where ICQ is strong. Founded and run in Israel, ICQ has been a revolutionary company on the Internet. We wish them great success as a part of DST and will be rooting for them going forward.?
*February 2010 comScore Media Metrix data
About Digital Sky Technologies
DST was founded in 2005 and is the largest Internet company in the Russian-speaking and Eastern European markets and one of the leading investment groups globally to exclusively focus on Internet related companies. DST, together with its affiliate DST Global, also hold stakes in Internet world leaders such as Facebook, Zynga and GroupOn. DST is a privately held company backed by leading Russian and Western financial institutions. For more information please visit www.dst-global.com.
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Source: http://www.businessinsider.com/aol-s...dst-fyi-2010-4
That's a ton of cash. I wonder what plans the new owners have for the service. I haven't used native ICQ since I switched to Trillian years ago, but I'd love to see ICQ get some better features. |
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