Time Warner Inc’s AOL says it plans to buy Internet advertising technology company Quigo to boost its ad force and better compete with Google. Reuters reports a source estimating the purchase price at approximately $340 million.
Quigo, which has more than 500 publisher relationships, signed a deal with the company’s magazine division, Time Inc in June. The Internet ad-targeting company lets advertisers buy sponsored listings, but the main difference with Google is that it allows advertisers to place their ads on specific Web pages.