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AOL Acquires Video Search Company Truveo

Jan 10, 2006  •  Post A Comment

America Online announced Tuesday that it acquired Truveo, a search engine company that specializes in finding online video, including news, sports and other content.

Terms of the deal, which was inked and closed Dec. 21, were not disclosed.

The purchase is part of a broader plan by AOL to boost its content offering in an effort to drive Web traffic and generate higher advertising dollars. Late last year AOL struck a deal in which Google paid $1 billion for a 5 percent stake in AOL and agreed to deepen a search relationship that has existed since 2002.

Truveo, founded in 2004, previously was a privately held company. Its seven employees will become part of AOL’s video search operation. They will continue to be based at Truveo’s Burlingame, Calif., headquarters.