AOL has announced it has entered into an agreement to acquire California-based global programmatic video advertising platform Adap.tv for $405 million.

According to a release on the deal, AOL is purchasing the company, which provides a programmatic platform and automated tools that buyers and sellers can use to plan, buy and measure across linear TV and online video.

Adap.tv will operate independently as part of AOL’s video organization and be led by Ran Harnevo, SVP of video at AOL, and will be included in the options offered by AOL Networks to its clients.

“At Adap.tv, we are focused on building the most important business within the most important category in digital advertising,” said Amir Ashkenazi, CEO, Adap.tv in the release. “We believe that most TV advertising will soon be traded programmatically on platforms like ours.  The combination of AOL and Adap.tv accelerates our vision of efficient and effective TV and video advertising.”

Because the deal is still in its early stages, specific Canadian details are not yet available, according to a representative from AOL Canada.