AOL is to acquire Gravity, a company that provides multi-screen content optimisation and personalisation, for approximately $83 million. An additional $7.7 million of consideration will be deferred and paid over two years following closing. As part of the transaction, AOL will acquire approximately $12 million of net operating losses, which is expected to result in a future cash tax benefit to AOL of approximately $5 million. AOL expects the acquisition to close in the first quarter of 2014.
The Gravity product and team will report to AOL Brand Group Head of Product, Luke Beatty.
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