While no financial terms have been disclosed, AOL has confirmed it will acquire the TechCrunch network of sites.
According to a press release issued by AOL: “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 was made at TechCrunch Disrupt in San Francisco, CA, and includes TechCrunch’s main site, MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase.
“Michael [Arrington] 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,” Tim Armstrong, Chairman and CEO of AOL said in the release. “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.”
In addition to running a network of websites, TechCrunch also hosts a speaker series called Disrupt, The Crunchies Awards and other meet-ups around the world.
“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,” said TechCrunch founder Michael Arrington in a news release. “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.”
TechCrunch’s network of sites will be folded into AOL’s Technology Network that consists of blogs like Engadget, Switched, TUAW and DownloadSquad. Citing comScore numbers, AOL says its network ranks in the top five for tech news and leads the top five in average time spent and average visits per user.
“TechCrunch and AOL share a motivating passion for quality technology news and information, and we’re delighted about becoming part of the AOL family,” said Heather Harde, CEO of TechCrunch, in a news release. “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.”
AOL says its acquisition of TechCrunch furthers its goal of becoming a leader in sourcing, creating, producing and delivering high-quality, trusted, original content to consumers.
TechCrunch’s headquarters will remain in San Francisco, CA, as a wholly owned AOL unit.