Deals
AOL to Buy Adap.tv for $405 Million to Expand in Video
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AOL Inc. agreed to buy the video-advertising startup Adap.tv for $405 million, marking its biggest acquisition since Chief Executive Officer Tim Armstrong led the spinoff of the company from Time Warner Inc. in 2009.
AOL announced the cash-and-stock deal as it posted second-quarter profit that beat analysts’ estimates, lifted by gains in advertising sales. The stock rose 1.4 percent to $36.69 at the close in New York. The shares have gained 24 percent this year, outpacing the 21 percent gain of the Standard & Poor’s Midcap 400 Index.