Verizon Communications Inc. (VZ) has agreed to acquire AOL Inc. (AOL) for $4.4 billion, or $50 per share. The deal will aid Verizon’s efforts to expand in the mobile space with video and advertising technology, and will also bring in AOL’s digital media outlets, according to The Deal’s Chris Nolter. Craig Moffett of MoffettNathanson LLC commented that this is a ‘tantalizing first step for Verizon’ toward building a mobile advertising platform. ‘AOL has successfully built a robust ad tech stack with assets across mobile, social, video, and programmatic for both advertisers and publishers,’ he said, adding, ‘[AOL] has premium audience measurement and attribution capabilities, as well as content creation and distribution technologies.’ The Deal’s Senior Reporter Lisa Allen has the details from New York.
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