America Online acquires Xdrive

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America Online acquires Xdrive

America Online today announced that it has acquired Xdrive, a provider of online storage and back up services. According to the company, Xdrive will be integrated into the Digital Services business unit, but continue to operate as a stand alone organization. Financial terms of the deal were not disclosed.

Xdrive was founded in 1999 and a high-flying dotcom during the Internet boom. The privately-held, 34-employee firm does not disclose how many customers it currently has, but describes itself the “the leading provider of online storage and file sharing services.” Initially, the company offered free virtual storage, today the firm offers only fee-based solutions. 5 GByte are priced at $10 per month, 50 GByte at $100.(THG)