AOL buys video platform via StudioNow; Looks for new CTO

AOL said Monday that it has acquired StudioNow for $36.5 million.

AOL said Monday that it has acquired StudioNow for $36.5 million. The move will give AOL a video platform to add to its content management system, dubbed Seed.com.

According to a statement, AOL closed the deal Jan. 22. StudioNow will power the video creation system for Seed.com and continue to manage video services to other companies.

AOL CEO Tim Armstrong said that original video creation is a key pillar for its content plans. StudioNow is based in Nashville and has a network of freelance film editors and filmmakers that work primarily with corporations to hone their video assets.

StudioNow's network will provide know-how for AOL productions and advertising partners. StudioNow's current clients include Ford Models, CitySearch and Simon & Schuster, which is owned by CBS, parent of ZDNet.

Separately, AOL announced that CTO Ted Cahall was stepping down. AOL said it will begin a search for a CTO that can manage its various technology hubs.

The company also said Jeff Reynar has joined the company as head of AOL's technology for engineering and products in New York. Reynar will build out AOL’s New York technology center and focus on content and engineering. Reynar is the co-founder of DBT Labs, a social search service. Before DBT, Reynar was a product and engineering manager at Google focused on Google Blog Search, search UI and Google Squared among other areas.