Interesting catch for aol. Thought Yahoio were after them?

In an unexpected move, AOL has acquired social-networking site Bebo. The price tag: $850 million in cash.

Rumors had floated over the past few months that Bebo, which has over 40 million members, was up for sale. Reports suggested a $1 billion price tag, but there were few hints as to potential buyers. Though Bebo had already partnered with AOL's AIM messaging client to facilitate friend-invite interoperability between the two services, even the most creative blogger speculation didn't seem to point to AOL eventually buying the social network.

AOL buys BEBO for $850 Million [news.com]

[edited by: engine at 4:50 pm (utc) on Mar. 13, 2008]
[edit reason] added quote [/edit]