AOL to buy Adap.tv for $405 million

AOL is set to buy Adap.tv for $405 millionAOL is set to buy Adap.tv, a platform which provides video advertisement on websites, for $405 million.

AOL CEO Tim Armstrong is taking a major risk by acquiring Adap.tv. It is Armstrong’s biggest deal since AOL bought the Huffington Post for $315 million.

“We have looked at this space really closely for the last year,” Armstrong said. “Adap.tv is the only player where buyers and sellers are built out at scale,” he said. “If I had to pay it personally out of my bank account I would have done it,” he added. 

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