DIGITAL NEWS: AOL to acquire Adap.tv for $450m
AOL will acquire video advertising platform Adap.tv for $405 million, in a bid to boost ad revenue.
Adap.tv's platform allows advertisers buy and sell online video and TV ads in real time.
AOL hopes the combination of AOL On and Adap.tv will give it a unique end-to-end solution and video stack for publishers and advertisers.
Adap.tv will operate independently as part of AOL's video organisation and be included as part of the overall solution offered by AOL Networks to its publisher and advertiser partners.
Amir Ashkenazi, CEO, Adap.tv said: "At Adap.tv, we are focused on building the most important business within the most important category in digital advertising.
"We believe that most TV advertising will soon be traded programmatically on platforms like ours. The combination of AOL and Adap.tv accelerates our vision of efficient and effective TV and video advertising."
The search engine expects to close the acquisition in the third quarter of 2013.
Photo via Flickr/ jasonpersse