AOL has recently announced its latest acquisition, Pictela Inc. The latter is an award-winning global technology platform for serving and dispensing high- definition brand content across online marketing and social media. You might be asking what is this purchase by AOL for? Well, the company is still going after their long-term revenue generation, monetizing their growing media network.

In an interview following the announcement of the deal, Jeff Levick, AOL’s President of Global Advertising and Strategy, relates the strong presence of Pictela in the advertising scene. He also expressed huge confidence on this move by AOL. He narrated, “Pictela is an outstanding fit for AOL as we re-imagine the intersection of content, advertising and the consumer experience.

Pictela’s product development team is best-in-class, and its beautiful, content rich, media display formats meet Interactive Advertising Bureau (IAB) and Online Publishers Association (OPA) standards that run across AOL Media properties and other publisher sites. We’ve taken one important step towards spotlighting quality ad content with Project Devil on AOL Media properties, and now we’re taking a second by bringing Pictela into the AOL Advertising family.”

AOL is probably gearing towards something here, as network ads are still seen as highly relevant. Just today, MySpace and Google have renewed vows of search and advertising partnership. Aside from continuing the usual ads and campaigns, the union has sought new updates. The report noted that part of the development is that Google will provide more display services to “enhance the rich entertainment content experience inherent on Myspace.”

An article published in Wallstreet Journal mentioned the current status of AOL and how the organization sees things to take a different course for their fourth quarter sales results: “AOL is in need of more ad dollars. The company has been struggling in its attempts to transform its business from a subscription-based service for connecting to the Internet to an ad-supported digital media company. Advertising sales at AOL plunged 27% in the third quarter as the broader online-ad industry reported growth.

“AOL CEO Tim Armstrong has said that the fourth quarter will continue to be “bumpy” but that investors should start seeing signs of a turnaround in 2011.” Nevertheless, with Pictela’s experience nad proven track record in growing clients across retail, consumer packaged goods, automotive, entertainment and travel sectors, it could be the spark the AOL has been waiting for in a long time now.