Viacom has acquired Xfire, the Silicon Valley company, in order to establish internet business concentrating on young people. The deal was struck at a price of $ 102 million which Viacom will pay in cash.



Xfire has developed a program which is almost alike to other instant message systems used by video game players. By using this system its user can trace that which game their friends are playing and can join them as well in playing games online.



However, Xfire to some extent trying hard to follow the line of social networking sites like Facebook and MySpace as well.



Viacom, the parent company of MTV Networks, earlier explored the options of taking over MySpace and IGN, both game oriented networks of web sites. But both the sites were acquired by the News Corporation.



Via nytimes