AOL extends deal with Google

AOL and Google have renewed their search partnership for an additional five years, and will expand into the mobile and video spaces.

Under the renewed deal, Google will provide AOL with search services for all its sites and mobile services. AOL's video content will be featured on YouTube, and AOL will share a portion of its revenues with Google.

AOL chief executive Tim Armstrong said that the deal is part of an ongoing campaign to reinvent the company as a content provider network.

AOL has been dumping unsuccessful projects such as ICQ and Bebo while seeking to enhance content services like its Patch news network.

Google chairman Eric Schmidt, meanwhile, said that the expansion into mobile and video could prove successful for both sides.

"This agreement combines Google's expertise in search and advertising with AOL's strength in online content," said Schmidt.

"It's particularly exciting to see our relationship expand into video and mobile. These areas are now at the heart of users' online experiences and at the core of both of our businesses."