Fresh off the news this morning that AOL had acquired hyperlocal aggregator Outside.in for $10 million, representatives from both companies appeared this morning on a panel at Borrell Associates’ Local Online Advertising Conference at the Grand Hyatt to talk about the deal as well as the current gold rush taking place in hyperlocal media.

Mark Josephson, Outside.in’s CEO, said he was “thrilled” to be joining AOL, which will use his technology to beef up aggregation of information around the content produced for its Patch network of hyperlocal sites. He said that Outside.in had gone out of its way to build incredibly powerful tools for local journalists, and to serve consumers by organizing local media sources within tools and dashboards. Josephson said that he had envisioned a partnership with Patch since he heard of the company’s inception.

Patch media president Warren Webster also said he was “extremely exicted” about the deal, saying that pairing Patch’s local professional journalism and efficiency of scale with

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