Israel's Quigo,
which specializes in internet advertising and marketing services, was sold to AOL Thursday, for a reported $363 million.
Quigo was founded in 2000 by Yaron Galai and Oded Itzhak and originally based in Tel Aviv. The company relocated its base of operations to New York at the request of its top investors – Highland Capital, IVP, Steamboat Ventures and Meritech Capital, which invested some $40 million in the company's products.
The company specialized in search engines and has also developed the AdSonar system, which can characterize the online user's preferences and match it with the proper marketing content.
Quigo will join AOL's global marketing division.
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