Internet companies Google and AOL have renewed their search partnership with a new five year deal, which will see Google offering enhanced search functions to AOL and the companies will share the revenue generated by advertising.
Tim Armstrong, AOL's Chairman and Chief Executive Officer, said in a statement that “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.”
The new alliance will see AOL and Google working towards improving AOL's mobile app offerings by adding new mobile search features - a small but growing market - and will also work together to develop new apps.
Google has also agreed to provide ad formatting for AOL web properties and as part of a strategic content partnership, AOL will be bringing its video offerings to Google's YouTube video sharing service.
AOL has tried to reinvent itself as a content producing entity and Tim Armstrong, who came from Google has overseen the launch of Seed, an open content submission platform.