Announced earlier today by Reuters and confirmed later by techcrunch, AOL has acquired the Internet advertising company Quigo for a price that is told to be about $340 million.
This move is done while either Google Inc or Yahoo Inc are stronghtening their armadas!(See my last post about Google's social ads!)
AOL, which is a unit of the Time Warner, wants by this operation to re-adjust its growth graph and to "transform itself into a non-stop online advertiser shop"! AOL Chief Executive Randy Falco told Reuters in an inteview that he expects Quigo to add to the company's growth in 2008.
Quigo, will join in this acquisition other advertising entities that belong to AOL like adtech, Tacoda and Advertising.com in what is called Platform A. It will bring to the group its 500 publisher relationships and its AdSonar product that "lets advertisers place their ads on specific Web pages, including pages featuring topics or keywords such as "mutual funds" or "health and science."" (See techcrunch)
1 comment:
I have just received this email from Quigo's CEO:
Dear Advertiser,
As you may have already heard, AOL has entered into an agreement to acquire Quigo and will be integrating AdSonar into Platform-A, AOL's new online advertising platform. Details of the acquisition aren't being released yet, but CLICK HERE for AOL's press release which provides some high-level information regarding the transaction. What does this mean for you and your ongoing relationship with Quigo? Nothing should change short term. Once the transaction closes, we do anticipate being able to offer you new and exciting advertising opportunities as part of this relationship with AOL. More to come on that in the weeks and months ahead.
So for now, thank you for your business and stay tuned for more updates from your salesperson or account manager.
Best Regards,
Tom Foran
Vice President, Sales
Quigo Technologies, Inc.
Quigo Technologies, Inc.90 Park AvenueNew York, NY 10016
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