It is finally official, Tim Armstrong, CEO of AOL, announced today at TechCrunch Disrupt that AOL has finally acquired TechCrunch and all their properties in a successful deal today.
AOL Inc. [NYSE: AOL] today announced that it has agreed to acquire TechCrunch, Inc., the company that owns and operates TechCrunch and its network of websites dedicated to technology news, information and analysis. TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence, further bolstering AOL’s position as one of the world’s leading providers of high-quality, tech-oriented content. The announcement will be made on stage at TechCrunch Disrupt in San Francisco, CA.
The deal gives AOL a big lead in the tech reporting industry after it had also bought Weblogs Inc. through which they got hold of Engadget. Today with the acquisition of TechCrunch, AOL has their hands on two of the biggest tech reporting sites in the world.
TechCrunch which was started out 5 years ago by a lawyer Michael Arrington has quickly grown to become a huge establishment with several web properties and events under their umbrella. TechCrunch network contains MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase.
Michael Arrington, Founder and Co-Editor of TechCrunch, said: Tim Armstrong and his team have an exciting vision for the future of AOL as a global leader in creating and delivering world-class content to consumers, be it through original content creation, partnerships or acquisitions. I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry.
So does this mean that AOL has now bigger control over the tech news industry with both Engadget and TechCrunch under them? It could certainly be. Another big social website Mashable also syndicates content to AOL rival Yahoo, so will Yahoo now start looking for another acquisition to bolster their news section?