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Netscape was an internet company as well as a popular web browser in the late 1990s and early 2000s. After enjoying popularity as the most used internet browser on personal computers, it lost out to Microsoft’s internet explorer. By the end of 2006 less than 1% of people were using the Netscape internet browser.
Along with their internet browser, the folks at Netscape Communications developed the Secure Sockets Layer Protocol (SSSL) and JavaScript; one of the most widely used programming languages still to this day. So although the web browser is virtually extinct, a lot of the technological backbone still exists today.
In 1998, Netscape communications was acquired by America On Line (AOL). Instead of a monetary amount, a 4.2 billion dollar stock swap occurred. This made it a tax free deal. Unfortunately the subsequent releases of unstable version of Netscape explorer by AOL further drove users away and into the arms of Microsoft internet explorer.
In May 2003, after Microsoft was found guilty of monopolizing the market, AOL was awarded $750 million. They were also given the right to distribute Microsoft internet explorer for free to all its users for seven years. This part of the deal meant the demise of Netscape explorer. Netscape was officially disbanded in July 2003.
In 2004 Red Hat announced the acquisition of a large amount of the Netscape Suite. The company announced its plans to release the browsers code as an open source. A final version of the Netscape browser was released in 2008 however at it only occupied 0.6% of the user market. No further versions are expected to be released.


