Well, this could well be one of the biggest news of its time. You can understand the gravity of this deal if you have been following TechCrunch for the last few years. TechCrunch, Inc. is the company that runs the blog TechCrunch and its sister websites. All these websites provide high quality content and amazing amount of data analysis making TechCrunch the must visit website of its since years.

"Michael and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of start-ups, and their reputation for top-class journalism precisely matches AOL's commitment to delivering the expert content critical to this audience," said Tim Armstrong, Chairman and Chief Executive Officer of AOL. "TechCrunch and its team will be an outstanding addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience."

Under this deal all the employees of TechCrunch, Inc. (including its founder Michael Arrington) will work for AOL so as to continue writing for TechCrunch and its sister websites. The model will run as is, just that AOL will be the owner of TechCrunch, Inc.

[via TechCrunch]