AOL and Google Renew and Expand Global Partnership
MOUNTAIN VIEW, CA and NEW YORK, NY – September 2, 2010 – Google Inc. (NASDAQ: GOOG) and AOL Inc. (NYSE: AOL) today announced a five-year renewal and expansion of one of the largest and longest-standing partnerships in Internet history. The global alliance, which has at its core Google's provision of search services to AOL's content network and properties, in exchange for a revenue-sharing arrangement between AOL and Google, will be expanded to include mobile search and YouTube.
"Today is another important step in the turnaround of AOL," said Tim Armstrong, AOL's Chairman and Chief Executive Officer. "AOL users will be getting a better search and search ads experience from the best search company in the world – Google. After nearly a decade-long partnership in search, we're looking forward to expanding our global relationship to mobile search and YouTube. All aspects of our partnership will be improved by this deal."
"We're excited to deepen our partnership. This agreement combines Google's expertise in search and advertising with AOL's strength in online content," said Eric Schmidt, Chairman and Chief Executive Officer of Google. "It's particularly exciting to see our relationship expand into video and mobile. These areas are now at the heart of users' online experiences and at the core of both of our businesses."
The partnership includes a broad range of features that will improve and expand the products and services offered to consumers.
- Search Products: Google will provide AOL with additional features and enhancement to its leading Web search products that will improve the consumer search experience across AOL's network of sites.
- Advertising Products: Google will provide AOL with best-in-class ad formats, giving AOL consumers a better, more relevant ad experience.
- Mobile Search: As AOL renews its focus on mobile apps and content, the companies will work together to expand the alliance to cover mobile search.
- YouTube: AOL and YouTube have agreed to a content partnership that will bring AOL's video content to YouTube.
- Global Focus: The alliance is international in scope and will provide improved experiences to AOL's worldwide audience.
About AOL Inc.
AOL Inc. (NYSE: AOL) is a leading global web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL's business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL's owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL's consumer offerings.
About Google Inc.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia. For more information, visit www.google.com.
Caution Concern Forward-Looking Statements
This Current Report on Form 8-K contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements identified by words such as "anticipate," "may," "will," "intend," "should," "expect" or similar expressions. These statements are based on the current expectations and beliefs of AOL's management, and are subject to uncertainty and changes in circumstances. Any forward-looking information is not a guarantee of future performance and actual results may vary materially from those expressed or implied by the statements herein, due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as factors affecting Google's and AOL's operations and businesses. More detailed information about these factors may be found in AOL's reports filed with the SEC from time to time. AOL is under no obligation to, and expressly disclaims any obligation to, update or alter the forward-looking statements contained in this Current Report on Form 8-K, whether as a result of new information, future events or otherwise.
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