IT Mergers & Acquisitions

AOL LLC today announced that it has acquired leading financial news and information search technology company, The Relegence Corporation of New York, NY.

AOL’s acquisition agreement with privately-held Relegence was signed and closed on Monday, November 6th, 2006. Financial terms of the deal were not disclosed. Relegence and its 60 employees will continue to be headquartered in New York, with offices in London and Tel Aviv. It will operate as a wholly-owned subsidiary of AOL, and will continue to partner with and serve a distinguished list of the world’s top financial services firms.

Using proprietary technology, Relegence simultaneously monitors, indexes, and filters more than 20,000 unique, global sources of live content streams – such as local and international newswires, print media, television and cable networks, regulatory feeds, corporate and information web sites, internet bulletin boards – and deliver to a user’s desktop only the information which is relevant to his or her individual search criteria. Additionally, Relegence can comprehensively integrate internal content streams and programming with external content and create a powerful tool for users to manage and utilize mission-critical information in their day-to-day activities and enable them to make more timely and accurate choices and decisions.

Relegence is AOL’s fifth announced acquisition of 2006, following Userplane and GameDaily in August, Lightningcast, Inc. in May, and Truveo, Inc. in January. Other recent corporate acquisitions by AOL include MusicNow, LLC; Weblogs, Inc.; Xdrive, Inc.; and Wildseed, Ltd. – all in 2005.