AOL has acquired contextual search company Sphere, a San Francisco-based company which allows publishers to aggregate content based on related subjects, such as video, audio and blog posts.

Sphere's technology is designed to help companies increase advertising exposure by driving page views. AOL didn't release financial terms of the deal, nor did it say when it expected the deal to close.

The Time Warner company is currently looking for an identity and new revenue streams as it disposes of its internet access business. In March, it bought UK-based social-networking site Bebo for $850m. Last week, it was linked to a possible deal with Yahoo as a way for that company to give Yahoo shareholders an alternative option to the proposed Microsoft acquisition.