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Google Inc., the Internet search company founded seven years ago by two college friends, briefly surpassed International Business Machines Corp. in market value yesterday on reports of a deal to take a stake in America Online Inc.
Google surged to a market capitalization of $131.9-billion (U.S.) when its shares rose 3.7 per cent to $446.21 on the news, topping IBM's market cap of $131-billion. Google shares later closed down 1.3 per cent. At day's end, IBM was worth $130.7-billion and Google had fallen to $125.5-billion.