AOL announced Tuesday that it is acquiring video search startup Truveo, which offers technology to more easily find online video, reports the Associated Press. The acquisition reinforces AOL's reliance on video to attract visitors to AOL's ad-supported sites in its push away from a declining subscription business. Terms of the deal were not disclosed, but paidContent.org writes that it was worth "around $50 million." Truveo's seven employees will become part of AOL's video and search team.
Truveo claims its Visual Crawling technology more efficiently looks for and indexes breaking news, sports and entertainment clips as well as user-generated submissions. It attempts to download and "view" an entire web page as would a visitor, using all the programming scripts, plug-ins and other tools that a text-focused search engine might ignore.
AOL said it would integrate Truveo with its own video search products, including multimedia search engine Singingfish, writes AdWeek. When they are combined, AOL will have approximately 4 million videos in its videos search index, the company said.