Submission + - You've Got Mail: Verizon Scoops Up AOL For $4.4 Billion (hothardware.com)
MojoKid writes: We learned this weekend that AOL's dial-up business still has over 2 million customers who pay on average just under $21 per month for service. Regardless of how strange that seems to those of us that salivate over the prospects of gigabit Internet, folks are still clinging to 56k modems are adding millions to AOL's bottom line. However, also recall that AOL has a massive digital advertising platform with a heavy focus on the mobile sector and also owns a wealth of popular web destinations including Engadget, TechCrunch, and The Huffington Post. With this in mind, it shouldn't be too surprising that Verizon has offered AOL a marriage proposal. Verizon is acquiring AOL for an estimated $50 per share, which brings the total value of the transaction to $4.4 billion. Verizon is banking on the deal to boost its rollout of LTE wireless video and over-the-top (OTT) video. AOL will also strengthen Verizon's position in the Internet of Things (IoT) market.