Digital Sky buys AOL's ICQ
AOL clears another asset off its books, just in time for first-quarter earnings: Digital Sky Technologies, the Russian investors with a seemingly insatiable appetite for American Web properties (Facebook, Zynga, etc.), is buying Tim Armstrong's ICQ chat service. They're paying $187.5 million, and AOL expects the deal to close by the third quarter.
AOL has been auctioning off the service since last fall. By February, it had narrowed the field to four buyers, who were looking to pay around $200 million, Kara Swisher reported. Release:
DIGITAL SKY TECHNOLOGIES TO ACQUIRE AOL'S ICQ INSTANT MESSAGING SERVICE
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