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AOL buys Gravity
New York-based AOL has acquired Gravity, an Internet company specializing in multi-screen content optimization and website personalization. The company's products allow sites to apply a personal filter to online content based on an individual's interests, preferences and habits. They also allows publishers to provide customized content and advertising to viewers. AOL will make use of this technology to enhance its own online services in an effort to make its content more engaging for consumers, advertisers and publishing partners.
"The next evolution of the Internet is personal, and it will be about applying personalized filters that curate the most relevant experiences for consumers from the growing volume of content offered by traditional digital distribution platforms, including search and social," said AOL chairman and CEO Tim Armstrong. "Gravity's technology is that filter and will take AOL to the next level in building awesome experiences across the AOL ecosystem."
AOL acquired Gravity for approximately $83 million. Its staff will become part of AOL. Gravity's clients include USA Today, Conde Nast, Hearst, Gap, Sony and Intel.