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Google to buy DoubleClick

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Mountain View, Calif.—Google announced Friday that it has agreed to acquire DoubleClick for $3.1 billion in cash from San Francisco-based private equity firm Hellman & Friedman. There had been speculation of an impending DoubleClick deal with either Google or Microsoft Corp.

Google CEO Eric Schmidt said in a conference call announcing the deal that the agreement to buy DoubleClick is “something we’ve thought about for a very long time.” The acquisition combines DoubleClick’s ad management technology for media buyers and sellers with Google’s ad platform.

Google said the combined company will provide a way to manage search and display ads in one place and use a common set of metrics across different online media. “That integration is something that people have been asking us for a very long time,” Schmidt said.

For online publishers, the combination will provide access to new advertisers and enable them to monetize more of their inventory, Google said.

“From our perspective, DoubleClick is in a unique position to strengthen advertising and the advertising business of Google,” Schmidt said. “But more importantly, we think this benefits advertisers, partners and end users.”

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.

—Carol Krol

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