AOL Buys Quigo For $340M!

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lotto1.jpgIt’s official! After much speculation, and being told that everything is a rumor and that the Quigo folks could give me “No comment” at ad:tech about the possible acquisition by AOL, it was confirmed today that AOL will in fact be acquiring Quigo.

The company has stated that it plans to buy Quigo and the services it provides for matching ads to content on site pages including AdSonar and FeedPoint.

In September, AOL acquired Tacoda, improving the company’s behavioral-targeting capabilities to assist in the growth of their online ad division. The firm has been experiencing a decline in subscriptions for online access.

AOL has released details to move sales reps, content producers and senior execs to a new office in New York. The new ad division will be under the name Platform A, which will integrate all of the advertising progress AOL, has made in the past year.

Randy Falco, AOL’s chairman and CEO said to USA Today “With Quigo, we are putting the final pieces of Platform A in place. We will be able to offer advertisers and publishers the most advanced set of tools, including contextual and behavioral targeting, superior analytics, and access to the largest display network in the marketplace.”

With its history in the space, it has surprised many industry professionals that Quigo had not been acquired up to this point with the acquisition frenzy continuing still. Although there were previous rumored reports that the deal would be done for $300 million, any new reports with numbers are saying the company was purchased for $340 million.

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