Comcast will announce the acquisition of Plaxo in a matter of hours, PEHub has learned. Deal terms are not going to be announced, a source familiar with the matter says. Expect a release at around 3:30pm Pacific.
Rumors of the deal floated up three months ago and gossip site Valleywag reported the deal value of $175 million but did not name its source.
Henry Blodget said the deal was a bad idea because Plaxo’s employees would bail within a week of the deal. Now we’ll get a chance to see if they do, it seems.
The deal is a win for investors such as Globespan Capital Partners’ Venky Ganesan and Sequoia Capital’s Michael Moritz. Their firms, along with DAG, Harbinger and Cisco pumped $23.4 million into the startup over the past six years, according to data from Thomson Reuters.