AOL announces it is acquiring Netscape Communications Corp. for $4.2 billion. Andreessen is negotiating a position with the company after announcing a sabbatical. Netscape President/CEO Barksdale is joining AOL’s board of directors, but will not hold an operating role:
Netscape is doing this because it’s in the best interests of Netscape.
Andreessen and a founding team of five other members announce the name change from Mosaic Communications Corporation to Netscape Communications Corporation based on the popularity of the “Netscape” browser. Chairman and CEO Jim Clark says:
We are making this name change both as a gesture of good will to the University of Illinois and to more clearly differentiate our company from other companies marketing World Wide Web browsers. ‘Netscape Communications’ more fully conveys the nature and breadth of our business, which is much more comprehensive than a simple browser for the Internet. Our new name enables us to underscore our unique identity as a premier provider of complete, standards-based client/server solutions for communicating and conducting commerce on the Net.