The AOL/TechCrunch deal was not only announced, but signed, at the TechCrunch Disrupt conference in San Francisco. Video of Armstrong and Arrington signing the deal is below. TechCrunch founder Michael Arrington is selling to AOL to relieve him of constantly working on back-end issues, like finding good engineers. It seems a strange choice though – TechCrunch has a reputation for being leading edge and AOL has a reputation for being all washed up!

It’s Crunch Time for AOL

So now AOL has got it’s Street Cred card it will be interesting to see if it can keep it. AOL has given TechCrunch editorial freedom and having Michael Arrington and his team in house should hopefully mean that content quality should not be effected. It will definitely improve AOL’s image in the tech community.

This social elevation that AOL will enjoy is probably the best gain for them in the acquisition, however, it will also make AOL an even bigger player in tech blogging, which will make it very attractive to tech advertisers.

Despite AOL’s apparent demise AOL’s network is still the biggest in the U.S., reaching 91 percent of all Internet users as of late last year, not only that AOL still had the fifth most traffic in the U.S. last month.