Last week Verizon bought AOL for $4.4 billion. Why would a telecom company buy an aging Internet publisher and subscription service? To gain a competitive edge in mobile, advertising, content and over-the-top (OTT) video. A marriage made in mobile heaven.In a press release about the purchase, Verizon says it is taking a “significant step in building digital and video platforms to drive future growth,” and the acquisition will help drive Verizon’s LTE wireless video and over-the-top (OTT) video strategies. It will also support and connect to Verizon’s IoT platform.As a leader in digital content and advertising platforms, joining forces with AOL allows Verizon to create a mobile-first platform, and to acquire AOL’s assets, including its subscription business and a portfolio of content including The Huffington Post, TechCrunch, Engadget, MAKERS, and AOL.com.”Verizon’s vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience,” said Verizon Chairman and CEO Lowell McAdam.Rather than write our own “insider take” on the acquisition, we’ll defer to one of our favorite experts, Ken Doctor, who summarized the deal in these 9 takeaways for Capital New York:

1. Ken Doctor calls this a “small deal” because AOL is a small player in a big world, and it will probably never catch up. The acquisition was a quick way for Verizon to improve its ad and video technology. Meanwhile AOL’s Tim Armstrong can put this on his résumé and exit before the honeymoon.
2. Verizon is the largest cellphone company in the U.S., but it needs to improve automated mobile ad sales which AOL is doing well. AOL, on the other hand, is not doing so great with mobile. The two can grow together.
3. AOL can teach Verizon how to monetize its first-party data, and Verizon can dramatically improve its advertising savvy and data usage.
4. By working together, Verizon and AOL can increase ARPU – average revenue per user. In other words, both companies will be able to get more money out of their customers.
5. The digital space – including cable and OTT – is getting crowded, and Verizon is a bridesmaid. Hopefully, AOL can help them get back in the game.
6. The tried and true way to grow a company is acquisition. Verizon can check that off its 2015 “to do” list.
7. The OTT marketplace is growing quickly with players like CBS, NBCUniversal and HBO getting into the game. With this marriage, AOL can help Verizon secure its place.
8. Though Yahoo is bigger, Yahoo and AOL have a lot in common. Yahoo should consider beefing up its dowry to see who will propose.
9. You can put lipstick on a pig, but it is still a pig. Put more eloquently, Verizon can buy its way into the media and content business, but that doesn’t mean it will be able to successfully run a media business.

It really boils down to Verizon wanting to grow and be more competitive. While the marriage between Verizon and AOL is not ideal and won’t achieve all of Verizon’s goals, there are potential synergies for both companies. At the same time, divorce seems imminent as others line up to buy AOL’s key assets like HuffPo. No one wants to be the bridesmaid, but it is an inevitable casualty of the Verizon-AOL marriage.