AOL to acquire Quigo for an undisclosed figure

AOL is still acquisition hungry. The online giant announced that it has entered into an agreement to acquire targeted advertising site Quigo.

Financial terms of the deal were not disclosed. When completed, the acquisition will give AOL a contextual advertising platform that matches ads to the contents of a Web page.

Earlier this year, AOL acquired mobile marketing firm Third Screen Media, ad-serving platform Adtech AG and behavioral-targeting firm Tacoda.

In September, AOL announced the formation of Platform-A, its new digital display advertising platform.

New York-based Quigo, which was founded in 2000, has more than 500 publisher clients, including a recently finalized deal with Time Inc. and has about 3,000 advertisers.

Quigo's AdSonar technology lets advertisers purchase ads on Web sites based on specific pages, sections, topics or keywords that show up in text, display and video formats. Quigo also operates FeedPoint, a search engine marketing business that helps retail advertisers with search engines and comparison shopping platforms.

Quigo employs about 100 people and will operate as a wholly owned subsidiary of AOL within the Platform-A organization.