If there is one word to describe AOL’s business strategy this year, it has to be “acquisition.”  Continuing this approach AOL has acquired yet another tech-based start-up. The acquired company, About.me, provides a much needed solution for the social networking fanatic. It helps in bringing all of one’s online profiles to one location. As the name suggests it helps everyone make a simple to elaborate “about me” web page about themselves. Bloomberg report AOL’s take on the acquisition as follows:

AOL’s president of consumer applications, Brad Garlinghouse, said in a statement that the site allows people to express themselves in an “increasingly noisy environment full of disparate social experiences.” He added that creating smart online identities for people can help AOL’s content and advertising strategy.

Terms of the deal are yet to be disclosed. However, it is being said that about.me co-Founder Tony Conrad and his team will join AOL’s consumer applications group.

This is the eighth acquisition by AOL in this year alone. Other acquisitions include pictela ( High definition video content providers for advertisments) , unblab (Email Prioritization App), TechCrunch (Technology blog) , Thing Labs (App Developers) and 5 min (Online Video Network), Studio Now(Online Video creation and management site), Rally up (Social Network). We think that by adding all this functionality to the Web Portal’s portfolio, AOL intends to cover some of the lost ground over the years. The success of these initiatives really depends on the smooth integration of these services within AOL’s overall strategy