Rumour: Xing to Acquire Plaxo for $250 million

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This Week on Rev2 (TWOR) - Ending 9th June, 2007

XingA tipster informs us that Xing, a Germany-based subsidiary company focused on professional people search and management for businesses and enterprises, maybe acquiring Plaxo, an e-mail address book management and sharing platform. Reports say the acquisition is currently rumored to be around the $250 million range.

For Xing, which clashes much with Plaxo’s premise but has a userbase of companies mostly outside the U.S., this will mean an integration of users and an entrance into the the U.S. market with their respective products.

PlaxoFor Plaxo, which has been reportedly looking for a buyer for a while now, this is a great opportunity to create an alliance with another strong player in this market and work on creating a, through the use of technologies and userbases from both sides, a really competitive solution.

From what we’ve heard, this ‘rumour’ really seems to be something more. The fact that both products are essentially suited for each other, it’s a good rumoured price, and that Plaxo has been long-seeking a buyer points to a high chance of an announcement sometime next week.