I have been contacted by an AOL source who has just informed me that AOL is just about to close a deal whereby they will take possession of Social networking site Bebo with their 40 million worldwide memberships!

AOL plan to reclaim their leading position in social media which will help their overall online strategic position. AOL value Bebo as a “true pioneer of the social web” as it’s the leading social network in the UK, as well as being ranked No. 1 in Ireland and New Zealand and No. 3 in the US. They plan to enlarge their current visibility to a staggering 80 million unique users worldwide which few other social networks can reach.

This move by AOL is a rapid international expansion and will surely make the other major players in the industry take notice.

Remember you heard it here first!

• I did get this info before the official release by email
• The total price is around $850 million dollars