AOL Buys Online Storage Company
From Associated Press
America Online Inc. said it had bought online storage company Xdrive Inc. of Santa Monica to meet the growing needs of consumers with rapidly expanding collections of digital music, photos and other files.
AOL did not disclose financial terms but said it would operate Xdrive as a wholly owned subsidiary and continue to sell storage and backup services through Xdrive.com. Xdrive’s 34 employees have moved to an existing AOL building in Santa Monica.
