Verizon to Acquire AOL in $4.4 Billion Deal

Verizon to Acquire AOL in $4.4 Billion Deal

Verizon Communications announced on Tuesday that it is acquiring AOL, formerly known as America Online, for $50 per share, in a deal worth approximately $4.4 billion.

Verizon to Acquire AOL in $4.4 Billion Deal

“Verizon’s acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy. The agreement will also support and connect to Verizon’s IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.”

The deal will aid Verizon in their move into the mobile video and advertising business, and will give them access to AOL’s technology for selling ads and delivering web video.

AOL’s other assets include its subscription business, (2.1 million users still subscribe to AOL’s dial-up Internet service); its premium portfolio of global content brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com, as well as OTT, original video content; and its programmatic advertising platforms.

Tim Armstrong, AOL chairman and CEO, will continue to lead AOL operations after closing.

AOL will become a wholly-owned subsidiary of Verizon once the transaction has been completed. The transaction is expected to close this summer.

Related

  1. App Promotion Firm ComboStore Debuts Their New Website
  2. Margolis: ‘New’ Apple TV Interface is 5 Years Old, Was Discarded by Steve Jobs
  3. Highlights of Today’s Opening Statements from the Senate Committee on Tax Strategies Hearing
  4. Jimmy Iovine in Talks With Artists for Exclusive Album Releases
  5. Mac Users Targeted by Fake FBI Notices from Ransomware Websites
  6. Reminder: Apple’s Back-to-School Promo Ends September 20th
Apple Giveaways

iPhone X Giveaway

$999

Enter

MacBook Pro Giveaway

$1499.00

Enter

10.5″ iPad Pro Giveaway

$649.00

Enter

iPhone 8 Plus Giveaway

$800.00

Enter
Share