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AOL chats up Mirabilis
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May 21, 1998: 8:18 a.m. ET
World's largest online service may be near $300M deal for Israeli start-up
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NEW YORK (CNNfn) - America Online Inc. is nearing an agreement to acquire Mirabilis Ltd., an Israeli company that has ushered millions of Web surfers into Internet-based chat rooms, for $300 million, according to a published report.
Mirabilis, based in Tel Aviv, makes ICQ, a pioneering software program that allows Internet users to locate friends online the moment they log on. AOL has popularized its own version of ICQ, called "Buddy Lists," a small box that pops up on the computer screen, alerting subscribers to the presence of a friend on line.
The ICQ technology, by contrast, offers a broader menu of options to its cyber clientele, including the ability to swap Web computer files and Web addresses.
AOL, the nation's largest online service, may make its offer for Mirabilis in the next week or two, according to the Wall Street Journal. The deal is expected to be a stock-and-cash transaction.
AOL apparently is keen on tapping into Mirabilis's worldwide audience of 11 million subscribers, who have flocked to the technically-savvy service since its launch in 1996, the Journal said. Today, Mirabilis hosts tens of thousands of chat sessions on virtually every imaginable topic.
Mirabilis does not run advertising on its site or charge user fees.
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AOL
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