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AOL acquires another

Published on .

America Online said it agreed to acquire Ubique, a Rehovot, Israel-based developer of real-time online chat software. AOL will pay $14.5 million to acquire the company: $13.2 million in common stock and $1.3 million in cash. Ubique software, called Virtual Places, allows people to virtually meet and interact on the World Wide Web. AOL will use the software to enhance online chat functions on its core service as well as its planned Internet service. Wwhile chat functions are easy to manage in a closed environment such as a commercial online service, they are much more difficult to run in an open environment like the Internet. Separately, AOL opened its latest Greenhouse project, the electronic Gourmet Guide, or eGG, on Monday.

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