AOL completed its acquisition of social networking site Bebo nowadays. 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 citizens Network commerce unit. Heading up that trade unit is Joanna Shields who will serve as president. that “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 that 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 prepare a good decision? Do you think that acquisition puts AIM at risk? Be certain to voice your opinion in the comments!

Disclaimer: AOL is the parent company of Weblogs, Inc. which owns DownloadSquad.

[via InformationWeek]

Original post by Cory Bohon