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Comcast Corporation has made known that it is ready to acquire contact Management Company Plaxo Inc. Comcast has confirmed that it will purchase the pioneering web start-up Plaxo, which first sought to turn address books into social networks and laid the foundation for Facebook and Friendster. Plaxo helps people synchronize their address books and connect socially online.
Comcast revealed that social networking and other services will be added to Comcast.net, Fancast.com and Fandango.com websites as a result of the acquisition. Sam Schwartz, executive vice president of Comcast Interactive media remarked that the combination of Comcast and Plaxo together can supercharge both their products.
The Philadelphia based cable company will also eventually allow cable subscribers to access the services through their set top boxes and other devices. The acquisition by Comcast is a part of the company’s strategy to strengthen its online presence. The terms of the transactions have not yet been officially disclosed. Comcast, the largest US cable TV operator and a leading US broadband supplier, according to a source is paying around $175 million, plus or minus 5 percent for the acquisition.
