AOL Finally Finds Someone To Buy ICQ (In Russia Or China)

Tim Armstrong

AOL has been trying to offload its extra instant-messaging service ICQ for several months.  According to the NYT’s DealBook, it has finally found some bidders:

ProfMedia and DST of Russia, and Tencent of China, have submitted binding offers to buy AOL‘s instant-messaging service ICQ, the business daily Vedomosti reported Tuesday.

The ProfMedia offer is only $120 million.  If memory serves, this is about a third of what AOL paid for the service in the late 1990s (which is irrelevant, but predictable).  At this point, any cash in exchange for dumping a stale distraction is a good trade.

Here’s a link to the original story, which is in Russian:

Go to Related Article from The Moscow Times »
Go to Article from Vedomosti (in Russian) »

As we’ve described, we think AOL has an opportunity to unload at least $1 billion worth of extraneous assets and streamline its operations considerably.  The company appears to be headed in that direction, but it’s taking its time about it.

Next up: MapQuest.  We have no idea what the financials are here, but we suspect the property will command a higher price than ICQ.

See Also: AOL’s Content Strategy Is Still A Mess

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