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International: Google outbids Microsoft with plans to acquire DoubleClick for US$ 3.1 bn

16-April-2007
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International: Google outbids Microsoft with plans to acquire DoubleClick for US$ 3.1 bn

Google has announced its plans to acquire DoubleClick Inc., a player in digital marketing technology and services, for US$ 3.1 billion in cash. “The acquisition will combine DoubleClick’s ad management technology for media buyers and sellers with Google’s advertising platform and publisher monetisation services,” the official communiqué noted.

“It has been our vision to make Internet advertising better — less intrusive, more effective, and more useful. Together with DoubleClick, Google will make the Internet more efficient for end users, advertisers, and publishers,” said Sergey Brin, Google’s Co-Founder and President, Technology.

Eric Schmidt, CEO, Google, said, “DoubleClick’s technology is widely adopted by leading advertisers, publishers and agencies, and the combination of the two companies will accelerate the adoption of Google’s innovative advances in display advertising.”

If approved by federal regulators, the deal would be the largest in Google’s nine-year history, and the amount is more than double what the search engine giant paid for YouTube in November 2006. Many experts pointed out that this multi-billion deal also shows Google’s willingness to use its financial muscle to snatch strategically important targets from competitors.

Previously too, it won a coveted deal by guaranteeing payments of US$ 900 million to deliver web search and ads on MySpace. In 2005, it had again got the better of Microsoft to strike a search-related advertising deal with AOL in exchange for a US$ 1 billion investment.

David Rosenblatt, CEO, DoubleClick, remarked, “Google is the absolute perfect partner for us. Combining DoubleClick’s cutting-edge digital solutions for both media buyers and sellers with Google’s scale and innovative resources will bring tremendous value to both our employees and clients.”

The official communiqué also noted that they expected the deal to close by this year’s end.

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