As has been reported previously, AOL, part of Time Warner, has bought New York/Israel-based ad targeting provider Quigo, for an undisclosed sum, though previous reports have pegged it at around $300 million. Reuters (NSDQ: RTRSY) reported earlier today that the price was around $340 million.
Quigo's two main ad serving products include AdSonar, which is similar to AdSense in terms of providing targeted placements on websites and through searches, and FeedPoint, a search engine marketing tool. Quigo has raised $45 million since opening its doors in 2000. The bulk of the investments, about $30 million, has been secured over the past year from existing backers, including Steamboat Ventures (Disney), Highland Capital, Leon Recanati's Glenrock Ventures, IVP and Meritech Capital Partners.
Quigo will be the fourth ad company AOL (NYSE: TWX) has acquired in 2007. Earlier in the year, AOL acquired Third Screen Media (mobile advertising), Adtech AG, an ad serving platform based in Frankfurt, Germany, and Tacoda, the behavioral targeting company. All of them roll into Platform-A, AOL's recently announced ad platform division.
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