AOL swallows Netscape
from CBC.ca archives | Tue, 24 Nov 1998
WASHINGTON - Internet service power America Online Inc. announced today it will buy Netscape Communications Corp. in a $4.21 billion deal. A side deal with Sun Microsystems brings three of Microsoft's archrivals together in a transaction that will change the landscape of the World Wide Web.
The all-stock transaction calls for Netscape shareholders to receive .45 of a share of AOL common stock for each of the 99.5 million shares of Netscape stock.
Under the deal, AOL gains control of Netscape's popular and most widely used Internet browser.