AOL Buys Digital Ad Company
AOL Inc. acquired digital advertising company Pictela Inc. on Thursday to bolster its efforts to attract more ad dollars from big brands by selling larger, glitzier ad formats.
Terms of the deal were not disclosed, but a person familiar with the matter said it was valued at between $20 million and $30 million. Pictela will operate as a business unit within AOL, and its 18 employees will stay on to work at the Internet company.
Founded in 2008, New York-based Pictela creates ads that include high-resolution video, photos, coupons and other interactive components that marketers can update in real time. The ads have appeared across a broad network of sites, including AOL, Yahoo Inc., Pandora, Hearst Corp. and Demand Media.