AOL acquires TechCrunch for an estimated $25 Million

At Techvibes we like to think of ourselves of the “TechCrunch of Canada”, so we were very intrigued to learn that AOL has acquired TechCrunch.

AOL chief executive Tim Armstrong announced this morning on stage at TechCrunch’s Disrupt conference that the web giant has purchased the technology blog for an undisclosed amount. Ironically, the story actually broke last night on GigaOm.

While we don’t know yet how much AOL paid for the blog network founded by Michael Arrington, it has been estimated at $25 million.

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.”

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.”