Mergers and Acquistions News
Categories: Media & Information Services
September 30th 2010, 18:23PM
Global internet firm AOL will acquire technology start-up blog TechCrunch, it has emerged.
According to Reuters, a source familiar with the deal said the transaction is worth about $30 million (18.9 million).
The blog is dedicated to technology news, information and analysis. According to the TechMeme Leaderboard, it is the number one source for breaking online tech news.
TechCrunch, founded by Michael Arrington, also runs a range of associated websites, such as MobileCrunch, CrunchGear and GreenTech.
"Michael and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of start-ups, and their reputation for top-class journalism precisely matches AOL's commitment to delivering the expert content critical to this audience," said Tim Armstrong, chairman and chief executive officer of AOL.
Michael Arrington said he welcomed the acquisition and was looking forward to working toward setting the agenda for "insight, reviews and collaborative discussion about the future of the technology industry".
While the blog will join AOL's Technology Network roster, it will still remain free from editorial control.
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