Venture capital-backed social networking company Plaxo Inc. agreed Wednesday, May 14, to be bought by Comcast Corp. [CMCSA] as the cable operator looks to broaden its range of services.

While the country's biggest cable TV company and No. 2 broadband Internet supplier did not reveal the terms of the deal, a number of media outlets have pegged the price at $145 million to $175 million.

Plaxo offers technology that helps users more easily share contact information, photos or personal Web-site information. The Mountain View, Calif.-based company is credited with forging the social networking craze with technology that helps people use their address books to connect online, paving the way for the likes of Facebook and others.

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