Social-networking company Visible Path to be acquired

As social networking is creeping into business, business networking specialist Visible Path, funded by Kleiner Perkins, finds a buyer.

While rumors swirl about acquisitions of popular social-networking sites, one deal has already happened: Visible Path, which makes social-networking tools for business users, is set to be acquired.

A company representative on Tuesday said that Visible Path has signed a term sheet with a multibillion international company to sell the firm. She said the service is expected to continue operating.

Visible Path's hosted service gives people a map of their contacts and their contacts' relationships, which its software automatically builds. It lets people search through that network.

Unlike many social-networking sites, Visible Path is not a separate destination. Its tools are meant to be used with other desktop applications.

The company was founded in 2002 and funded by Kleiner Perkins Caufield & Byers, Menlo Ventures, and Integral Capital Partners.

Rumors were circulating earlier this month that News Corp. was in negotiations to buy LinkedIn, a social network used by professionals.

Featured Video

Your Black Friday shopping survival guide

Ready to battle for deals? Bridget Carey helps you plan your strategy with tips on smartphone apps, where to find the best deals, and when to avoid the stores.

by Bridget Carey