New York – AOL (NYSE: AOL) said on Monday it has acquired goviral, a
European video distribution network, in a deal worth $96.7 million.
Under the
deal, AOL paid $74.1 million at closing, and will pay another $22.6 million
over the next two years.
goviral, which will maintain its offices in the U.K.,
Germany, France, Denmark, Sweden and Spain, distributes branded video content
across the Internet for major brands, media agencies, creative agencies and
content producers.
Clients include Nike, LG, Unilever, Paramount, Nokia,
Hyundai/Kia, Audi, Nintendo and Gucci.
AOL said the acquisition will bolster
its video offerings in Europe, and ultimately North America.
"Video is
core to AOL’s consumer programming strategy and goviral has created an
incredibly compelling platform," said Kate Burns, the senior vice
president of AOL Europe.
Over the past year, AOL also has acquired StudioNow,
5min Media, TechCrunch, Thing Labs, Pictela and about.me.
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