Verizon, an American broadband and telecommunications company, buys AOL for $4.4 Billion. Huffington Post, Techcrunch, Engadget, Makers and AOL.com are all a part of this deal.
AOL was famously known for its dial-up internet service and media sites like The Huffington Post, TechCrunch, Engadget, etc.
AOL chief executive Tim Armstrong said, “We are excited to work with the team at Verizon to create the next generation of media through mobile and video.“
He also added, “It’s really not about selling the company today. It’s about setting up for the next five to 10 years, and we’ve spoken for years about this.“
AOL had only 0.74% of the $145bn global digital advertising market in 2014, according to eMarketer. Market leader Google had 31.4% market share last year, followed by Facebook with 7.9%. (via BBC)
Verizon is offering $50 a share for AOL (previously it was $42.59). We all hope this is the next step for the company to continue growing smooth ahead.