December 16, 2010 / 5:38 PM / 9 years ago

AOL buys Web ad platform company

NEW YORK (Reuters) - AOL Inc bought Web advertising platform company Pictela expanding the types of online formats it offers to marketers.

Based in New York, Pictela distributes video, photos and copy into standard ad units for such clients as retailers, consumer packaged goods companies and automakers.

Terms of the deal, which AOL announced on Thursday, were not disclosed.

The acquisition is part of a larger initiative at AOL that involves an overhaul of its advertising strategy. In September, AOL unveiled Project Devil, a new large display advertising format that allows for interactivity within the ad.

Pictela will operate as a stand-alone unit within AOL and will continue to serve existing clients like Time Warner’s Time Inc, News Corp’s the Wall Street Journal and Yahoo, which use Pictela’s ad units.

“We have always said our goal with innovating ad formats is not to make it proprietary to AOL,” said Jeff Levick, AOL’s president of global advertising and strategy.

Reporting by Jennifer Saba. Editing by Robert MacMillan

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