AOL (NYSE:AOL) is acquiring Adap.tv -- a global video advertising platform for brands, agencies, and publishers -- for $405 million, AOL announced today.

AOL said in a press release that the combination of AOL On and Adap.tv will "give AOL a unique end-to-end solution and video stack for publishers and advertisers -- from premium original production, to content aggregation and syndication platforms, robust video CMS technology, and now a leading programmatic video platform."

According to AOL, in 2012, Inc. Magazine named Adap.tv as the fastest-growing video advertising company in the U.S. That same year, the company had more than 26,000 global ad campaigns running on about 9.500 websites. AOL said the Adap.tv acquisition will bring global programmatic video technology across all screens, a yield management platform, a long list of top advertisers and publishers, and a talented team to the company.

AOL CEO Tim Armstrong said in a statement that "two trends are prevalent in the video space right now -- the movement from linear television to online video and the shift from manual transactions to programmatic media buying. Adap.tv is positioned squarely in front of the huge opportunity these trends are presenting."

The $405 million purchase price is comprised of about $322 million in cash and approximately $83 million in AOL common stock. Adap.tv will operate independently as part of AOL's video organization. 

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