Rohit Khare
----------------------------------------
AOL buys a company--no, it's not Netscape
By Charles Cooper
_
Right rumor, wrong company.
The rumor du jour had America Online Inc. ready to announce an acquisition.
And so it did--only the object of its attentions was not Netscape
Communications Corp.
AOL acquired data compression developer Johnson-Grace for about 1.6 million
shares in stock in a deal that will be accounted for as a pooling of
interests.
....
Johnson-Grace, based in Newport Beach, Calif., develops data-compression
technologies.
AOL said it will let service providers and tools developers use the
technology, known as ART, to develop products that exploit sound and graphics
on the World-Wide Web as well as on commercial services.
That should come as welcome news to the majority of online users who aren't
connecting via ISDN or cable modem connections.