Selling out and cashing in

Cable company Comcast is purchasing Plaxo, a contact management site/social network, reports The Associated Press.

Comcast will add Plaxo's social networking functionality to existing sites, including portal Comcast.net and the Fancast video/content site. It will also be integrated into Comcast set-top boxes, though the logistics of that arrangement have not been revealed.

The inclusion of Plaxo tools will likely be used to allow Comcast users to connect to one another across platforms. Plaxo, which made its foray into social networking in 2007, will grant Comcast instant inclusion in online community-building.

The purchase price was not disclosed but could be anywhere from $100 million to $175 million.