Google buys DoubleClick for $3.1bn
- Apr 16, 2007
Both Google and DoubleClick have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of the year.
The deal will boost the search giant’s ad management technology for media buyers and sellers.
Microsoft was also involved in bidding for DoubleClick, and was reported to have withdrawn after the auction price rose above $2bn. Yahoo and Time Warner’s AOL online unit were also interested in DoubleClick.
Responding to the deal, Microsoft issued a statement calling for "close scrutiny" from regulatory authorities for the deal.
The proposed takeover would give Google and DoubleClick "unprecedented control in the delivery of online advertising, and access to a huge amount of consumer information by tracking what customers do online", Microsoft said, warning for possible negative consequences for advertising competition.
The deal was managed by private equity firm Hellman & Friedman, JMI Equity and management,