AOL buys TechCrunch

Also acquires network of websites, including MobileCrunch

AOL is acquiring TechCrunch, the company announced Tuesday.

TechCrunch and its network of websites dedicated to tech news, information and analysis, including MobileCrunch and CrunchGear, will join the AOL Technology Network while maintaining their editorial independence.

AOL's acquisition will be announced at TechCrunch Disrupt in San Francisco.

"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 CEO of AOL.

"TechCrunch and AOL share a motivating passion for quality technology news and information, and we're delighted about becoming part of the AOL family," Heather Harde, CEO of TechCrunch, said in a statement.

CNBC is estimating that AOL paid $40 million for TechCrunch, while a source within AOL said the company shelled out $25 million, Business Insider reports.