Quigo is a key word online ad firm specialising in contextual ads and sponsored links. It competes in that arena head-to-head with Google and Yahoo!.
Earlier this year in June, Quigo signed a deal with Time Inc, Time Warner's magazine business, as part of which the publisher adopted Quigo's AdSonar platform across a host of its sites including Time.com, CNNMoney.com, People.com, EW.com, InStyle.com and Golf.com.
Time Inc joined the likes of other large media sites such as ESPN.com and FoxNews.com that have already been signed up by Quigo, which has around 10% of the contextual ad market.
Quigo will become part of AOL's advertising services business Platform A, which it created in September and includes all of AOL's advertising-focused businesses such as display network Advertising.com, global ad serving platform Adtech and behavioural targeting specialist Tacoda.
Randy Falco, AOL CEO, said: "With Quigo, we are putting the final pieces of Platform A in place. We will be able to offer advertisers and publishers the most advanced set of tools, including contextual and behavioural targeting, superior analytics, and access to the largest display network in the marketplace."
Unlike rivals that place ads on a range of sites, but give advertisers little say over where the ads appear, Quigo offers a full breakdown and the option of targeting specific sites with their ads.
In October AOL said it was laying off 20% of its 10,000-strong global workforce, as it continues its reformation from providing internet access to internet advertising.
Yesterday, Time Warner named Jeff Bewkes, president and chief operating officer of the media company, as successor to CEO Richard Parsons.
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