“Hale Global has a strong track record of operational excellence and platform experience, and we are looking forward to working closely with them on Patch,” Armstrong said. AOL will retain a minority interest in Patch.
The companies anticipate closing the joint venture early in the first quarter of 2014, subject to customary closing conditions. Financial terms of the transaction were not disclosed.
* BIA/Kelsey’s US Local Media Annual Forecast, November 2013 ** ComScore Multiplatform, November 2013
About Hale Global
Hale Global is an investment holding company with a 13-year track record as a buyer and partner of choice for growth-technology special situations, including underperforming divestitures from corporate parents. The firm brings extensive in-house software and mobile development teams, turnaround skills predicated upon product innovation, and a deep operational bench. More information about Hale Global can be found at
AOL Inc. (NYSE: AOL) is a brand company, committed to continuously innovating, growing, and investing in brands and experiences that inform, entertain, and connect the world. The home of a world-class collection of premium brands, AOL creates original content that engages audiences on a local and global scale. We help marketers connect with these audiences through effective and engaging digital advertising solutions.
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