San Francisco – Confirming multiple reports from yesterday,
AOL (NYSE:  AOL) announced on Tuesday that it has acquired technology blog publisher and
events organizer TechCrunch. Financial terms of the deal were not disclosed.
The announcement was made by AOL chief executive Tim Armstrong onstage at
TechCrunch’s Disrupt conference in San Francisco. Founded in 2005 by Michael
Arrington, TechCrunch operates sites including its flagship,
MobileCrunch, CrunchGear, GreenTech and TechCrunchTV.

The company also
organizes events including Disrupt, the Crunchies Awards and various meet-ups

TechCrunch will continue to operate out of San Francisco as part of
the AOL Technology Network, which also includes Engadget, Switched, TUAW and

"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 Arrington.

"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."



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