AOL has acquired financial news and information search technology company Relegence.
The acquisition of the subscription-based services company forms part of AOL’s ongoing policy of overhauling its existing portal services. The deal, for an undisclosed sum, was signed and completed earlier this week, said AOL.
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 various financial services firms.
Founded in 1999, Relegence delivers real-time news information and other content to end-users moments as soon as it is published. Using proprietary technology, Relegence simultaneously monitors, indexes and filters more than 20,000 global sources of live content streams, and delivers tailored content that matches users’ requests.
Relegence is AOL's fifth announced acquisition this year, following Userplane and GameDaily in August, Lightningcast in May, and Truveo in January.