As questions swirl about its future, AOL (NYSE: TWX), part of Time Warner, has bought a small widget and online desktop apps maker Goowy Media, for an undisclosed amount. Goowy was founded in 2004 and based in San Diego. In 2006, Goowy received an undisclosed amount of funding from Mark Cuban.

Goowy offer AOL a software and analytics platform for widget creation and syndication, along with an in-built advertising solution. The company also has a consumer widget destination gallery, Yourminis.com. Previously, AOL had been working with Goowy for widgets for myAOL. More in the release here.