Aol ICQ Acquisition : TenCent Joins Bidding Race

After AOL was spun off from its parent Time Warner, the company has been focusing on building its content business so much so that other non-core assets including the popular ICQ have been put on sale.

As of now, three bidders have expressed their interest to buy the popular chat messaging platform. After Russia’s ProfMedia and DST placed their bid to acquire ICQ, China’s popular chat messaging solutions company TenCent too has placed its bid.

ICQ has over 42 million users worldwide, of which nearly 18.5 million are just from Russia. This explains why two Russian firms are active in the fray. ProfMedia is made to have made a bid for $120 million though AOL has put its own valuation for ICQ at $300 million

[via Reuters]