AOL Europe Acquires Goviral
AOL Europe enhanced its online video reach with today's acquisition of branded video distribution network Goviral. The purchase allows AOL to better deliver at scale, strengthening its position in Europe and, ultimately, the United States. The purchase price was $74.1 million, with an additional $22.6 million in deferred compensation to be paid over two years.
The purchase is the latest in AOL's move to recast itself as a top online video destination.
"Video is core to AOL's consumer programming strategy and Goviral has created an incredibly compelling platform that delivers highly measureable and cost effective solutions to publishers and advertisers," says Kate Burns, senior vice president at AOL Europe. "We believe that Goviral offers a unique proposition in today's market, and allows us to match our ambition for premium content creation and engaging advertising, with highly targeted distribution at scale. We look forward to welcoming this truly talented and innovative team."
Currently, Goviral's content distribution network includes over 18,000 publishers in 24 verticals. Its clients' reach extends to over 350 million viewers, with over 60 million views each month.
AOL has been on a spending spree lately. In 2010, it acquired StudioNow, 5min Media, TechCrunch, Thing Labs, Pictela, and about.me.
In his Streaming Media East second-day keynote, Ran Harnevo of AOL urged the audience to get their videos shown on the widest variety of sites and devices. View the entire keynote here.
Exclusive show will feature two-minute long commentaries from online personalities.