AOL buys Israel's Yedda
US-based internet giant acquires Kfar Malal company for several million dollars; Yedda to be kept as independent subsidiary, incorporated in AOL websites
American internet giant AOL announced Monday that it has acquired Israel's Yedda, which specializes in developing semantic search engines base on user input. The deal is estimated to be worth several million dollars.
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Yedda was founded by Avichai Nissenbaum, Yaniv Golan, Osher Frimerman, Daniel Verkhovsky and Eran Sandelr in 2005, with an initial investment of $2.5 million.
The company is currently based in Kfar Malal, in the Sharon region.
"AOL's platform of more than 100 million users will make Yedda of the worlds biggest personal information facilities," said Nissenbaum.
AOL intends to keep Yedda as an independent subsidiary, incorporating its technology in the various AOL websites.
