New York (NY) – AOL today announced that it has acquired Sphere,
an online search company that specializes in merging different
multimedia results to increase advertising exposure.
Sphere, based in San Francisco, aggregates websites, video postings, audio, and blog entries for a single search.
AOL has been in a highly publicized downturn for years after its
customized online portal became obsolete and subscription fees remained
comically higher than other ISPs.
It has turned to acquisitions and partnerships to help increase its
market position. It recently purchased social networking site Bebo for
$850 million and has reportedly been in talks to create some sort of
partnership with Yahoo.
AOL did not disclose the financial terms of its deal with Sphere.