NEW YORK: AOL, the web arm of media giant Time Warner, has offered around $900 million (€695m; £458m) for Swedish online marketing group TradeDoubler as it seeks to expand its European internet advertising business.

TradeDoubler is best known for running affiliate marketing programs in which websites get paid for passing traffic on to third parties.

AOL's offer, which has been recommended for acceptance by TradeDoubler's board, comes hard on the heels of the portal's European internet access operations in the UK, France and elsewhere.

Comments chairman/ceo Randy Falco: "This provides us with a unique opportunity for both TradeDoubler and us to capitalise on the continued rapid growth of online advertising and ecommerce in Europe."

TW believes the acquisition will complement, the AOL-owned company which runs an online advertising network for publishers.

TradeDoubler's biggest market is the UK, where its customers number telco giant BT and supermarket chain Asda. Its other markets include France, Germany and Scandinavia.

Data sourced from Financial Times online; additional content by WARC staff