New York—As expected, DoubleClick announced Monday shortly after midnight that it has signed a definitive agreement to be acquired by Hellman & Friedman, a San Francisco-based private equity firm, for $1.1 billion.
The transaction is expected to be completed in the third quarter. The ad management and data services provider went on the block in October.
DoubleClick CEO Kevin Ryan will leave the company. David Rosenblatt will continue to oversee the TechSolutions division as its CEO, and Brian Rainey will continue to lead the DataSolutions division as its CEO.
JMI Equity, a San Diego-based venture capital firm will also partner with Hellman & Friedman to invest in DoubleClick, the companies said.