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Cable-TV company Comcast buys social networking site Plaxo

US-based cable-TV company Comcast has agreed to acquire social networking site Plaxo to “bring the social media experience to mainstream consumers.” Terms were not disclosed, although reports suggest that the price could be up to $175 million, based on performance targets over the next few years.

US-based cable-TV company Comcast has agreed to acquire social networking site Plaxo to “bring the social media experience to mainstream consumers.” Terms were not disclosed, although reports suggest that the price could be up to $175 million, based on performance targets over the next few years.

“Comcast has an exciting vision to bring the social media experience to mainstream consumers,” Plaxo has said, “Together, we will be able to help users connect with all the people they care about, across all of the devices they use, with all the media they love to consume, create, and share.”

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