The days may be numbered for the iconic AOL running man logo as Verizon announced today that it is acquiring the tech company formerly known for dial-up Internet service in a deal worth $4.4 billion.
The merger is set to bolster the telecom giant’s mobile and video initiatives with the addition of AOL’s powerful advertising delivery platform. The acquisition also includes AOL’s impressive roster of content and media companies, including The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com.
According to USA Today, AOL CEO Tim Armstrong says the focus of the acquisition is mobile and video. “That is where the future is going,” he says, stressing that “the whole world is shifting to video.”