RealTime IT News

AOL Acquires Personal Library Software

America Online Inc. announced it acquired Personal Library Software (PLS), a developer of indexing and search technologies.

Under the agreement, AOL will acquire PLS and its software products in exchange for AOL's common stock. Financial terms were not disclosed.

"We welcome PLS employees into the AOL family," said Mike Connors, President, AOL Technologies. "This acquisition of core search technology will enable AOL to continue to improve our current search features, as well as more quickly roll out new ones in the future."

PLS's search technology currently serves as the basis for AOL's search services, including AOL's Member Directory, AOL Find, and Channel Search. In addition to AOL, PLS software is used by AT&T, Dow Jones, The Washington Post, USA Today, and Bertelsmann AG.

"This joining of forces is a natural event in the evolution of search," said Paul Kagan, PLS Chairman. "The advent of huge databases, linked by the Internet, has presented information providers with new challenges in distribution to the end-user. I believe the combination of these two companies will lead to new advances in retrieval that will substantially increase the knowledge and productivity of corporations and consumers."