Verizon to Leverage AOL's Technology to Boost its Digital Media Services
FREMONT, CA: Verizon Communications, a wireless carrier, completes acquisition of AOL making it wholly owned subsidiary of Verizon. The purpose of this acquisition is to use AOL’s video technology for providing mobile video service to their customers.
AOL’s technology makes it easier for ad agencies, publishers and brands to get ads in front of the most appropriate customers on video and publisher sites across desktop, mobile, tablet and TV. In addition to emerging web content, the network will offer live events including sports and music. The technology allows advertisers to see whether consumers are buying more products after seeing an ad on a smartphone, and enables them to shift more spending to mobile devices from desktops and television.
"The next chapter in our history where we intend to become the number one global media technology company for creators and advertisers and consumers on a scaled, mobile-first platform. Our vision is to provide customers with a premium digital experience based on a global multiscreen platform. AOL's advertising technology makes the company "an exceptional fit with Verizon's focus on launching ad-supported over-the-top video," said Marni Walden, Executive Vice President and President of product innovation, Verizon.
Verizon Digital Media Services uses world-class technology to help companies prepare, deliver and display digital media content including video, web pages, applications, mobile ads and live events on any screen. AOL is a multinational mass media corporation whose business spans digital distribution of content, products, and services, which it offers to consumers, publishers, and advertisers. In an expanded role, AOL CEO Tim Armstrong continues to lead AOL operations after the closing, and Bob Toohey, President of Verizon Digital Media Services, will report to Armstrong.