MySpace Buys Threadbox

Los Angeles-based social networking site MySpace has acquired Threadbox, a developer of email messaging software, according to Threadbox. Financial details of the buy were not disclosed. According to Threadbox, it sold certain assets of the firm to MySpace, and key members of the firm's team have moved over to MySpace's team. According to Michael Cerda, the firm's co-founder and CEO, the team will be applying the firm's technology at MySpace. Threadbox was formerly known as CC:Betty, and was based in Palo Alto. Rumors of the acquisition had first been reported in July.