Time Warner's (TWX Quote) America Online unit announced Tuesday the acquisition of closely held video search company Truveo, continuing its expansion into an area that experts predict will explode in popularity over the next few years.
Truveo has a proprietary technology called "visual crawling'' that lets it automatically discover video files on Web pages, enabling customers to see updated information on news, sports and entertainment. The acquisition, which closed Dec. 21, was AOL's fifth last year. News of the deal wasn't released until Tuesday. Terms were not disclosed.
"Consumers across the Web have eagerly anticipated a video search engine that offers relevant, up-to-the-minute premium search results,'' Jonathan Miller, chief executive of America Online, says in a statement. "The Truveo acquisition takes AOL even farther down the path of being the premier destination on the Internet for search and video.'' ...
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