AOL Acquires Financial Content Provider Relegence

| About: Time Warner (TWX)
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AOL Buys Financial News Search Company Relegence [Reuters]

Summary: AOL announced its acquisition of Relegence, a subscription-based company which provides financial information from over 20,000 content sources. Details of the transaction have not been released, but the deal may be worth close to $65 million according to Globes, an Israeli business publication. Privately-held Relegence has a staff of 60 employees located in New York, London and Tel Aviv, and is the fifth acquisition for AOL parent Time Warner's internet division since the beginning of 2006. AOL has been making changes to attract more online advertising, and revenue from ads jumped 46% in the third quarter.
Related Links: Relegence home page • Additional coverage: CNET Commentary: Time Warner Considers Cutting AOL LooseTime Warner Discusses AOL and Online Ad Revenue GrowthAOL Restructures - Again
Potentially impacted stocks and ETFs: Time Warner (NYSE:TWX) • Competitors: Yahoo (YHOO), Google (NASDAQ:GOOG)

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