Web dinosaur AOL appears to be on something of a spending spree, having just snapped up technology news site TechCrunch along with a social software start up.
The firm announced yesterday that it had purchased TechCrunch, saying that it and its network of related web sites would help bolster its standing in the technology news rankings.
"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 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."
Michael Arrington, founder and co-editor at TechCrunch, was equally enthused, although perhaps this isn't surprising given the vast amount of money he is set to personally inherit from this deal.
"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," he beamed.
"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."
The firm also announced its acquisition of Thing Labs, a social software developer. Thing Labs builds the Brizzly range of web-based social software and AOL said that it would be a good fit with its own social aggregator and publishing business Lifestream as well as its AIM messaging client.
However, with AOL rapidly falling out of the public consciousness, it may have to do more than just acquire to grow.
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