AOL Buys Tech Gadget Site Gdgt

by Christopher Freeburn | February 13, 2013 11:49 am

AOL in lights 630 300x199 AOL Buys Tech Gadget Site Gdgt[1]Technology review website gdgt announced on Wednesday that is has been acquired[2] by AOL (NYSE:AOL[3]).

According to its co-founder, gdgt will continue operations, but will migrate its offices and infrastructure to AOL. Registered users of gdgt who don’t want to share their profile information with AOL must delete their profiles by March 15, PC Magazine noted.

No financial terms of the purchase were officially disclosed, but media reports indicate that AOL will pay a contract in the high-seven-figures.

The website’s co-founder Peter Rojas also co-founded tech blogs Engadget and Joystiq, which were previously purchased by AOL. It’s other co-founder Ryan Block served as Engadget’s editor-in-chief in 2007.

Shares of AOL fell more than 1% in Wednesday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/09/AOL_in_lights_630.jpg
  2. that is has been acquired: http://www.pcmag.com/article2/0,2817,2415381,00.asp
  3. AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL

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