AOL completes Bebo acquisition

US based internet company AOL has announced that they have now completed the acquisition of social networking service Bebo.

Bebo is very popular in Europe. However it is a relatively smaller player in this market dominated by MySpace, Facebook and Orkut.

Hi5 and Friendster are some other players in the social networking industry.

AOL said that Bebo would now become a major part of their People Networks business unit.

AOL chairman Randy Falco added: “With the addition of Bebo and the creation of People Networks, AOL is uniquely positioned to capitalize on the exploding social media space by delivering a more personal experience for consumers and a better way for advertisers to engage them”.

Checkout: Bebo | AOL