AOL will buy Web advertising startup Adap.tv for $405 million, a reflection of its focus on digital video ads and real-time, automated ad buying. The Adap.tv system lets video publishers and marketers trade targeted inventory. AOL CEO Tim Armstrong called it "the best product company in the decadelong migration of offline TV dollars to IP-delivered video, which is the No. 1 consumer trend and the No. 1 advertising trend on the Internet."

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