Netscape Communications? shareholders voted overwhelmingly on Wednesday in favour of a stock swap merger, which is now valued at about $9.6 billion, with America Online (AOL).
The announcement followed the news last week that the US Department of Justice will not challenge the deal, which was first agreed last November. The transaction was then valued at $4.28 billion.
Netscape shareholders will receive 0.90 shares of AOL common stock for each share of Netscape common stock.
Elsewhere, Steve Case, AOL?s chairman, said that the company saw its three major growth drivers in the future as ecommerce, convergence and globalisation.
It plans to spend $10 billion over the next five years on providing its members with Internet access and will expand the reach of its brand with joint ventures in Hong Kong and Latin America.
He claimed the firm had signed up two million non US subscribers over the past three years.
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