AOL has announced the completion of its $850,000,000 (£435 million) acquisition of Bebo, a social network based in the UK. Bebo has an estimated 40 million users worldwide.

Randy Falco, Chairman and CEO of AOL, said about the deal, “AOL is now fully focused on growing our business in three key areas – our advertising network, publishing and people networks – by delivering relevant content and advertising across the Web, and we’re making great progress in each area.”

But will the acquisition threaten another deal with Yahoo UK who last year inked an ad deal with Bebo for the social network’s display advertising.

Source : SEW