Google takes a stake in AOL
Online search engine Google has confirmed it will invest $1bn to take a 5% stake in Time Warner's AOL unit as part of a major strategic alliance. 21 December 2005
The deal, which follows intense negotiations between the two US internet giants, values the troubled AOL unit at $20bn.
AOL is currently Google's biggest customer. During the first nine months of the year, it accounted for about $429m, or 10%, of Google's revenue.
The initiative also cuts out Microsoft and might drive them harder to develop their own search technology.
