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NEW YORK Despite intense pressure from Wall Street, slowed revenue growth and apparent management dysfunction, AOL continues to be aggressive on the acquisition front. The Time Warner-owned Web pioneer said Thursday that it has agreed to acquire Bebo, a fast-growing social networking site best known for its popularity in the U.K., for $850 million.
According to AOL, Bebo claims 40 million registered members worldwide, including a strong presence in Ireland and New Zealand. The site, which has a growing U.S.
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