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AOL Buys Tech Gadget Site Gdgt

The website's co-founders have dealt with AOL before


Technology review website gdgt announced on Wednesday that is has been acquired by AOL (NYSE:AOL).

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.

AOL Renames Group
AOL Renames Group

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.

Article printed from InvestorPlace Media,

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