AOL adds to local network with two acquisitions

AOL announced Thursday that it acquired Patch Media Corporation, a local news and information platform, and Going, a local platform for readers to discover and share things to do in leading cities.

Going forward, local will be a core area of focus and investment for AOL, said Tim Armstrong, AOL's chairman and CEO, in a release: “The acquisitions of Patch and Going will help us build out our local network further with excellent local services that enable people to stay better informed about what's going on in their neighborhood.”

The acquisitions extend AOL's network of local services, the largest online local network, reaching more than 54 million total unique visitors per month. Both acquisitions also leverage a consumer and marketplace trend toward greater consumption of news and information online.

Jon Brod, CEO of Patch, said that AOL's local strategy will “provide marketers access to highly targeted and deeply engaged audiences.”

Armstrong added that the acquisitions fit into AOL's history of content and community.

“AOL has a legacy of connecting people to the content, community and services they care most about,” he noted. “Patch and Going, combined with our existing network, will enable the company that got America online, to connect consumers around the globe to their communities online.”