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Xing, the German-based business social network, is expanding into the Spanish-speaking market with the purchase of eConozco, Spain's second biggest professional network.

Since launching in 2003, eConozco has reached around 150,000 members in Spain and Latin America. Both parties have agreed not to reveal the financial details of the deal.

Open Business Club AG, which operates German business social network Xing , has announced its preliminary results for 2006.

Back in December, Xing became the first web 2.0 company to go public, and its results for the past year show some pretty impressive growth.