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As expected, Russian investment group Digital Sky Technologies says it has reached an agreement with AOL (NYSE: AOL) to buy its instant messaging service ICQ for $187.5 million. DST, which has investment in Facebook and Zynga; South African media giant Naspers, which holds a 30 percent stake in Chinaís Tencent, had been the front-runner among a number of other eastern European companies for the past few weeks. The news comes out ahead of AOLís Q1 earnings this morning. The $187.5 million price is well below the $200- to $250 million AOL had reportedly been asking for, not to mention the $287 million base price that AOL bought ICQ for in 1998.
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