Comcast to acquire Plaxo

Plaxo recently announced (14th May) they’ve signed an agreement to be acquired by Comcast. At the moment they are not releasing financial details of the transaction. The acquisition is subject to the satisfaction of customary closing conditions and regulatory approvals, and is expected to close in the near future.

Plaxo will remain an independent operation in Silicon Valley, reporting into Comcast Interactive Media, which is a division of Comcast that develops and operates Internet businesses focused on entertainment, information and communication. All the 50 employees will continue to innovate on and grow both the networked address book service and the next-generation social network, Pulse.

More information is found in the press release.

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