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.

Read the full article »