AOL Buys Tech Blog Network TechCrunch

AOL or American On line is an online information service provider. The recent rumors about the deal between AOL and TechCrunch publicized through GigaOm and The Wall Street Journal saying that both companies were in negotiations.

This is quite a good move from AOL to become a new media force by acquiring a popular technology news publication TechCrunch and its associated properties.

Lately the formal acquisition was announced at the TechCrunch Disrupt conference at San Francisco. The AOL CEO Tim Armstrong and TechCrunch Founder and Co-editor Michael Arrington were present there to announce and sign the agreement. They also answered a few questions from audience. Although, Armstrong and Arrington didn’t disclose the terms and conditions, the CNBC’s reporter Julia Boorstin reports that the deal is finalized on about $40 million.

TechCrunch has becomes the focus of a technology news publishing outfit including Engadget, Switched, TUAW and Download Squad, at AOL. Armstrong said in his statement that TechCrunch and its team will be an exceptional addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience.

A member from an audience pose a question to Armstrong that what is the deal all about editorially as TechCrunch also runs CrunchGear, MobileCrunch, and TechCrunchIT, among other sites and now given the scope of publications under AOL network, Armstrong said, “We talk to Mike and CEO of TechCrunch, Heather and agreed on a point that there is a wide prospect of having a tech presence felt as a whole. I would like these brands to perform independently in a view of providing each other leverage as and when required.

Being a part of the deal, Arrington who founded the site in 2005, will remain the part of TechCrunch for at least three years. He said thanks in part to Armstrong while standing on the stage and described this as an incentive.

As far as the deal is concerned for AOL, it really was a busy day for them as there was news earlier this morning from AOL network that they had acquired 5min, a video syndication platform.

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One Response to "AOL Buys Tech Blog Network TechCrunch"

  1. stylo says:

    Wow Aol is investing Billion of dollars for buying top websites.

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