Earlier this month, AOL sold Newcastle-based marketing affiliate company Perfiliate, to London-based Digital Window. Perfiliate runs a leading affiliate marketing networks under the brand, Buy.at.

The financial terms of the deal have not been disclosed but it was reported that AOL purchased Buy.at for $125-150 back in 2008. The deal is part of AOL's wish to shed some of its non-core business assets.

Buy.at was set up in 2002 and is an affiliate network that allows publishers in the UK, USA and Scandinavia partner up with sellers to drive business through their websites.

CEO of Digital Window, Kevin Brown, commented that the deal will benefit the affiliate marketing industry in general: "This transaction is a milestone not only for Digital Window, but also for the performance marketing industry as a whole. Both companies already excel in the areas of service, ethics and technology. Joining forces enables us to harness the passion and creativity of both businesses to the benefit of all our partners."

Last year a majority stake in Digital Window was acquired by German media group Axel Springer AG and Swiss communications company Publigroupe S.A. The Swiss company is also the owner of Zanox AG in Berlin, the largest performance-based online marketing network in continental Europe.