Verizon Communications Inc said it would buy AOL Inc in a deal valued at about $4.4 billion to gain access to AOL’s digital advertising service and content, according to Reuters.

Verizon is offering $50 a share for AOL, compared with AOL’s closing price of $42.59 on Monday.

Verizon’s acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy,
– Verizon said in a statement.

The deal also includes websites such as the Huffington Post, Techcrunch, Engadget, Makers and AOL.com, reported BBC.