Exclusive: AOL buys YugaTech
Ok, I didn’t really want to write it this early but I thought it’s better this comes out straight from me first — we’ve just been acquired by AOL.
Here’s part of the press release given by AOL PR.
AOL TO ACQUIRE YUGATECH NETWORK OF SITES
Leading Authority on Tech News Will Expand AOL’s Growing Offering of World-Class, Audience-Relevant Content
San Francisco, CA, April 1, 2011 â€“ AOL Inc. [NYSE: AOL] today announced that it has agreed to acquire YugaTech Networks., the company that owns and operates YugaTech.com and its network of websites dedicated to technology news, information and analysis. AOL holds 51% share of YugaTech Networks which operates several websites and events such as YugaTech, YugaDeals, PinoyTechBlog, SEMCON, etc.
YugaTech and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence, further bolstering AOL’s position as one of the world’s leading providers of high-quality, tech-oriented content.
The acquisition is a first in the Philippines for AOL but is aligned with several other acquisition of other leading sites in Singapore, Hong Kong, Malaysia and Indonesia. The group of sites will be placed under the AOL Asia network.
Can’t share anything else as of this moment but don’t ask how much AOL offered me since I’m not allowed to say that. Announcements regarding sale of other tech sites in South East Asia will be announced in due time.
Will post and share my personal thoughts about this move on my personal blog or on FB.