AOL completes take-over of Bebo

AOL completed its acquisition of social networking site Bebo today. You may remember that AOL announced it would buy Bebo for $850 million back in March. According to InformationWeek Bebo will be the center of AOL's new People Network business unit. Heading up this business unit is Joanna Shields who will serve as president. This "People Network" will consist of three AOL services: AIM, ICQ, and now Bebo.
While Bebo is most popular in the UK, Ireland, and New Zealand, AOL is hoping grow this upcoming social network in the US. Silicon Alley Insider seems to think AOL will layoff employees working in the AIM/ICQ division due to the restructuring process.
What do you think? Did AOL make a good decision? Do you think this acquisition puts AIM at risk? Be sure to voice your opinion in the comments!
[Via: InformationWeek ]
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