by CIO Staff

Google, AOL Put Finishing Touches on Investment Deal

Mar 30, 20061 min
Mergers and Acquisitions

On Wednesday, search giant Google and Internet service provider America Online (AOL) finalized the deal in which Google is to invest $1 billion in exchange for a 5 percent AOL stake, CNET reports.

This conclusion is based on U.S. Securities and Exchange Commission filings, according to CNET.

The companies are expected to close the deal by July, and it was first announced last December, CNET reports.

As part of the agreement, the companies will utilize each other’s services for collaboration on advertising, instant messaging and video, according to CNET.

For related news coverage, read Google to Finish AOL Investment in Q2.

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