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Friendster reveals acquisition plans amid site relaunch

The same day that Friendster officially unveiled its site and logo relaunch, global sources report that the social network may have a new owner by the year's end, and pinpoints Tencent as one of the shortlisted companies for the acquisition.

According to reports, Friendster’s CEO Richard Kimber says the company is in the process of negotiating with a handful of primarily Asian buyers. Chinese powerhouse Tencent has been named as one of Friendster’s top suitors. Report rules out Facebook as a bidding contender due to hurdles related to competition and intellectual property rights. Posted by on Tuesday, December 15, 2009 at 08:43 AM

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