Time Warner Inc. (NYSE:YWX) subsidiary AOL has acquired Israeli search technology start-up Yedda Inc.. The size of the deal was not disclosed.
Yedda is a web 2.0 company that has developed a semantic search engine that can analyze questions and queries and invite the most suited surfers to share their subjective knowledge derived from their experience and know-how to answer the questions on Yedda's website and the sites of affiliated companies. Yedda's search engine differs from regular text-based search engines.
Yedda was founded in Kfar Malal in 2006. It will remain in place as a subsidiary of AOL, which will integrate Yedda's technology in AOL websites, the largest Internet community in the world. Yedda will also continue to seek partnerships with other content sites and distributors around the world.
Yedda CEO Avichay Nissenbaum said that when the deal is completed, AOL's 100 million-strong Internet community would turn Yedda into one of the largest personal knowledge centers in the world and a primary source for surfers seeking the experience and know-how of others.
Nissenbaum added, "Our vision is fully compatible with the vision and strategy of AOL. The platform that Yedda provides a broad network of sites will continue to foster knowledge wherever it is found and will add significant value to users and communities both at AOL and elsewhere."
Last week, AOL announced its acquisition of Quigo Technologies Inc. for an estimated $350 million. Quigo develops customized content-based advertising technology and products for websites.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2007
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