AOL Completes Bebo Acquisition

AOL has announced the completion of its acquisition of Bebo, a social network based in the UK. Bebo boasts an estimated 40 million users worldwide.

Randy Falco, Chairman and CEO of AOL, said of the deal, “AOL is now fully focused on growing our business in three key areas – our advertising network, publishing and people networks – by delivering relevant content and advertising across the Web, and we're making great progress in each area.”

But will the acquisition threaten another ad network? Last year, Yahoo UK inked an ad deal with Bebo for the social network's display advertising.