Comcast to Acquire Plaxo

Plaxo announced that it has just signed an agreement to be acquired by Comcast, the nation's leading provider of entertainment, information and communications products and services (and our largest customer and partner). Financial details of the transaction are not disclosed.

"Joining forces with Comcast is a real win for our customers, our investors, and our employees. Comcast has an exciting vision to bring the social media experience to mainstream consumers. 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. This is also great news for the Internet industry at large, where Plaxo has been – and will continue to be – a strong advocate for opening up the Social Web." said Ben Golub, CEO.

Plaxo will remain an independent operation in Silicon Valley, reporting into Comcast Interactive Media, which is a division of Comcast that develops and operates Internet businesses focused on entertainment, information and communication.

Plaxo and Comcast have been working together for the past year on a number of initiatives. Plaxo is providing the universal address book for Comcast’s SmartZone communications center (slated to launch later this year), and it is now hosting all of the address book accounts for Comcast webmail users.