Verizon to Acquire AOL

Verizon has signed an agreement to acquire AOL in a deal valued at $4.4 billion. According to Verizon, the acquisition further drives its LTE wireless video and OTT strategy, as well as supporting the company’s Internet of Things platforms, creating a growth platform from wireless to IoT for consumers and businesses.

AOL’s key assets include its subscription business; its premium portfolio of global content brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and, as well as its millennial-focused OTT, Emmy-nominated original video content; and its programmatic advertising platforms.

The transaction is subject to customary regulatory approvals and closing conditions and is expected to close this summer.