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In addition to solid earnings, AOL is reporting this morning that it has acquired Adap.tv for $405 million.It's a smart acquisition. The fastest-growing, healthiest part of AOL's business is AOL Networks.
AOL Networks uses fancy technology to sell precisely targeted banner ads in real-time.Adap.TV does much the same thing, but with video ads instead of banners.
The nice thing about video ads is that marketers are willing to pay much higher rates for them.
This is a very big bet for AOL CEO Tim Armstrong because these days, $400 million is a lot of money for AOL. It only had ~$470 million in cash laying around prior to doing this deal. The deal is $322 millin in cash, and $83 million in stock. AOL put out a release explaining its deal.