AOL Takes Over TechCrunch at $25 Million

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NEW YORK (GaeaTimes.com) — Finally rumors made way for the officiation of the AOL-TechCrunch Pact. It was supposedly a whooping $25 Million deal.

TechCrunch will now be serving AOL with its vast network in the techbiz. Some of the TechCrunch sectors that Aol has bagged with this deal happens to be, MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase. AOL was beaten up by TechCrunch in the TechMeme Leaderboard ranking and this has been their take altogether to restore their prestige. The official announcement will take place at TechCrunch Disrupt in San Francisco, CA.

TechCrunch operates a global network of dedicated properties from Europe to Japan and is leaded by Michael Arrington who happens to be its founder.

According to the press release,

Tim Armstrong, Chairman and Chief Executive Officer of AOL said,

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, TechCrunch and its team will be an outstanding 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.

Heather Harde, Chief Executive Officer of TechCrunch, told,

TechCrunch and AOL share a motivating passion for quality technology news and information, and we’re delighted about becoming part of the AOL family. This represents a compelling opportunity to extend the TechCrunch brand while complementing the great work of sites like Engadget and Switched. Our contributors, and our audiences, can look to the future with excitement about what we can build when we have the significant resources of AOL behind us.

Michael Arrington, Founder and Co-Editor of TechCrunch, commented,

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, it seems to be a hand in hand deal and both the companies seem to have benefited. Lets see what these two has in store for us all.