AOL To Buy Venture-Backed Content Co. For $90.7M

Law360, New York (January 23, 2014, 5:02 PM ET) -- New York-based AOL Inc. will buy venture-backed Gravity, a company that personalizes online searches and content based on users’ interests, in a deal worth approximately $90.7 million, bolstering AOL's ability to better target audiences with customized advertising and content, the media giant announced Thursday.

AOL says it will acquire Gravity for a closing purchase price of approximately $83 million with an additional $7.7 million of consideration being deferred and paid over two years following closing of the transaction, AOL said in a statement.

The media giant...
To view the full article, register now.