November 9, 2006

Yesterday, America Online said it has acquired search technology company Relegence, which has developed an expertise in finding financial news and related information.

Defined as a subscription-based news service, Relegence aims to deliver relevant information to users' desktops as soon as the news are published, regardless of the medium used.

Relegence's notification and delivery technology draws from such sources as local and international newswires, television and cable networks, radio, specific regulatory filings, Internet bulletin boards and various websites.

Overall, Relegence's services are designed to be integrated with internal streaming content.

"The company's technology delivers Web events and information in real-time to its users, offering them a large knowledge base in the marketplace and in their daily lives," said Jim Bankoff, executive v.p. of AOL's Consumer & Publisher services.

Relegence is a private company that employs about sixty people. It will retain its headquarters in New York and operate as a wholly-owned subsidiary of AOL.

The acquisition will be used to bolster AOL's development and deployment of its publishing and content management platform.

Financial terms of the deal were not disclosed.

Source: C-Net News