'

News Burst: AOL to buy Mirabilis for $287M

America Online (AOL) confirmed Monday that it has acquired Mirabilis, an Israel-based company that makes the popular ICQ instant messaging software, for $287 million in cash.

Under the deal, which was rumored for weeks, AOL will pay Mirabilis $120 million in performance incentives beginning in 2001. The payments will be spread over three years.