AOL has confirmed another acquisition to bolster its online ad line-up – this  time buying Israeli start-up Quigo in a deal reported to be worth around $340m (£162m).

Quigo, which supplies search marketing tools and contextual placements on sites such as Time’s digital properties, will be integrated into AOL’s newly-formed Platform A ad network.

The deal, rumoured for some time, is the latest in a string of purchases by AOL this year, including mobile ad firm Third Screen Media; ad serving company AdTech and behavioural targeting network Tacoda.

CEO Randy Falco said:

“With Quigo, we are putting the final pieces of Platform-A in place. We will be able to offer advertisers and publishers the most advanced set of tools, including contextual and behavioral targeting, superior analytics, and access to the largest display network in the marketplace.”

Quigo says its network includes around 500 publishers and 3,000 advertisers.