AOL Inc. 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.
Founded by Michael Arrington, TechCrunch operates a global network of dedicated properties from Europe to Japan, as well as vertically-oriented websites, including MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase.
The TechMeme Leaderboard ranks TechCrunch as the No. 1 source of breaking tech news online, followed by AOL's Engadget.
"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. "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, said: "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."
TechCrunch also hosts industry-leading conferences and events, including The Disrupt series, The Crunchies Awards and various meet-ups worldwide. These conferences bring together industry innovators, entrepreneurs and financing sources to exchange ideas, forge new relationships and discuss the current and future industry trends.
"Engagement with thought leaders is as important to AOL as our engagement with our contributors, audiences, publishers and advertisers, and TechCrunch's conferences and websites will give us a promising, additional springboard to join and amplify these conversations. We're committed to quality in everything we do at AOL, and look forward to working with Heather, Michael and the TechCrunch team to extend the brand," said David Eun, President of AOL Media and Studios.
The AOL Technology Network consists of AOL's tech-oriented properties including Engadget, the Web magazine about everything new in gadgets and consumer electronics; Switched, which covers the intersection of the digital world with entertainment, sports, art, fashion and lifestyle; TUAW, the unofficial Apple weblog; and DownloadSquad, the weblog about downloadable software and other computer subjects. The AOL Technology Network ranks in the top five for tech news according to comScore Media Metrix, August 2010 data, and leads the top five in average time spent and average visits per user.