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US: AOL stays afloat with video ad buyout

By  |  August 7, 2013
US: AOL stays afloat with video ad buyout

AOL Inc. announced Wednesday a deal to acquire video advertising platform Adap.tv for $405 million. Adap.tv is the only such company providing services for both publishers and advertisers, according to a press release. AOL is reportedly targeting the digital video market and has looked to do so through exclusive content and exclusive publishers. AOL’s efforts have earned the company second place with the second-most views of monthly content video for nine of the last twelve months in the US, said the press report. The deal involves about $322 million in cash and about $83 million in AOL common stock and remains subject to regulatory approval. Boards for both companies have cleared the deal, and Adap.tv shareholders have similarly approved. The parties said they expect the merger to be complete in the third quarter of this year.

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