As rumoured last week, Time Warner’s (TWX) AOL has acquired NY-based text-ad network Quigo for its “Platform A” advertising division. The 7-year-old company has about 500 publishers on its network — including many Time Warner sites — and about 3,000 advertisers. Terms not disclosed, but Reuters pegs the deal around $340 million. Quigo is the fourth ad company AOL has purchased this year: earlier, it acquired mobile-ad player Third Screen Media, Germany’s Adtech, and behavioural ad firm Tacoda. Release
Update: A source close to the company tells us that Reuters’ $340 million estimate is low. Anyone have a better number?