The popular Silicon Valley tech website is being acquired by AOL.
AOL CEO Tim Armstrong and TechCrunch co-founder Michael Arrington appeared on stage at a TechCrunch event Tuesday and signed the purchase agreement onstage.
Terms were not disclosed.
Silicon Alley Insider reported that Arrington will "stay on with TechCrunch."
"I have a funny idea I’ll be with AOL for three years, based on a variety of incentives," Armstrong said.
Armstrong said TechCrunch is something New York-based AOL — which already owns tech blog Engadget — has been interested in “for a while.”
TechCrunch will remain in San Francisco.
The deal includes the blogs MobileCrunch, CrunchGear and CrunchBase.
Rival website GigaOm first reported that talks were underway.
The Wall Street Journal followed up with its own report Tuesday morning. .
“A deal would mark a high-profile marriage between the Internet giant and one of Silicon Valley’s most high-profile blogs, which has often been discussed as a possible acquisition target,” the WSJ said.
(The Associated Press contributed to this report.)
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