In a recent conference in San Francisco AOL's chief Tim Armstrong and TechCrunch's co-founder Michael Arrington announced that AOL will soon be officially acquiring this famous technology blog.

Soon after rumors of this partnership starting floating over the internet, both the heads decided to make the official announcement "This wasn't supposed to happen today-this was supposed to happen later" announced Michael. "So we had to rush through this." he added.

There is a lot of speculation about the terms of the deal and as to how much money AOL is shedding to acquire this influential technology blog, but one thing is clear that the editorial aspect of the blog will be handled solely by TechCrunch.

"AOL's Armstrong, who is hiring hundreds of writers to create original news content and snapping up content companies to capture more users and advertisers, said that TechCrunch purchase would give AOL a much larger tech presence." reports LA Times.

TechCrunch was founded in 2005 and since then has managed to spread a lot of information about technological startups and various aspects related to it. AOL on the other hand seems to expanding their horizon through various websites like Engadget and Switched.

"TechCrunch and its team will be an outstanding addition to the high-quality content in AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience." stated Armstrong.