On Tuesday AOL announced it has acquired TechCrunch, the influential tech news company with a number of websites and conferences. The five-year-old company is best known for its flagship TechCrunch blog. In addition it operates CrunchGear, Mobile Crunch, TechCrunch TV and other properties.

The AOL Insider blog has the acquisition price at $25 million in cash plus earnings. CNBC says the deal is worth $40 million.

TechCrunch becomes the AOL property that gives the most coverage to the music industry, music startups and deal-making in digital music. AOL also owns popular tech blogs like Endgadget and The Unofficial Apple Weblog.

Further, the deal puts AOL squarely into the events business. (AOL had previously had conversations with All Things D, which runs a tech news site and conference for Dow Jones.) The official announcement of AOL’s acquisition came at TechCrunch’s annual TechCrunch Disrupt. The company also has the TechCrunch50 conference, which gathers 50 tech startups that pitch their businesses to an audience of investors, media and tech industry executives.