AOL, Inc. (AOL) Acquires Adap.tv For $405 Million, Reports Revenues Of $541.3 Million
AOL, Inc. (NYSE:AOL) has announced today that they have acquired Adap.TV for $405 million. Adap.TV will enable AOL to let publishers and brands buy and sell online ads in real time. Adap.tv will be combined with AOL On to create the world’s most powerful cross-screen solutions provider for brands, agencies, and publishers.
“AOL takes a major step forward today with another quarter of growth and our agreement to acquire the Adap.tv video marketplace platform that will make AOL a clear global leader in the most important growth segment in our industry – online video. AOL continued to get leaner during Q2 while growing consumer traffic, growing all advertising revenue lines, and improving our subscription trends,” stated AOL chairman and CEO Tim Armstrong.
Quarterly Earnings: AOL also announced their quarterly earnings today. The AOL’s earnings per share was 35 cents, which is 2 cents higher than analyst predictions. The company’s overall revenues was up 2% from a year ago. The earnings resembled last year’s quarter, which saw their ad and publishing growing while their dial-up business continues to slow down. Titak reveries were $541.3 million from $531.1 million in the same quarter last year.
AOL’s “brand group” reported a loss of $1.4 million compared to a $15.2 million loss from the same quarter a year ago. A large portion of these losses was because of local content network, Patch.com.