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Google buys DoubleClick for $3.1 billion

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Friday, April 13, 2007

Google has announced its intention of taking over the Internet advertising agency DoubleClick in a deal worth $3.1 billion. DoubleClick has also confirmed the deal and hopes it will be completed before the end of 2007.

Rumours of a takeover offer for DoubleClick had been circulating, with Microsoft, Time Warner and Yahoo! all reportedly interested in making an offer for the company.

Six months ago, Google bought YouTube for $1.65 billion. The current takeover is the largest in Google's history. In a press release, Google says the acquisition "will enable Google to extend our ad network and develop deeper relationships with our partners. This new partnership represents a tremendous opportunity for us at Google to broaden and deepen our inventory of available ads and to better serve both our publishers and users."

DoubleClick provides software for Internet advertising and brings together advertisers, advertisement agencies and website developers. DoubleClick is currently owned by the majority share-holders Hellman & Friedman, a private equity firm, with JMI Management also having a large stake in the company.

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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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