May 18, 2006 9:05 AM PDT

AOL acquires Lightningcast

AOL has purchased Lightningcast, an online-advertising company that specializes in the placement of streaming video and audio content.

In addition to video and audio advertising creation and insertion, Lightningcast also handles ad campaign management and results reporting. AOL has had a working relationship with Lightningcast since 2002 and has used its services for AOL Radio, AOL Video and In2TV ventures.

The Time Warner unit has been moving into the advertising and broadband video business over the last few years. In June 2004, AOL acquired for $435 million; and in January of this year, it purchased Truveo, the owner of a video search engine.

Lightningcast, a privately held company based in Washington, D.C., will become a subsidiary of CEO Tom MacIsaac will remain with the company in that role.

The deal was closed on Wednesday, according to an announcement made today by AOL. Lightningcast's 34 employees will remain with the company. Financial details of the deal were not disclosed.

See more CNET content tagged:, broadband video, America Online Inc., Time Warner Inc., streaming video


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