In a somewhat surprising move, given the speculation surrounding AOL and its future, the company has acquired number three social network Bebo for $850 million in cash. Bebo has a reported 40 million unique users on a global basis. AOL says in its press release, "Together with its AIM and ICQ personal communications network, the acquisition will give AOL a premier position in the fast growing world of social media with a network of approximately 80 million unique users."
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