Google lays out the dollars for DoubleClick, all 3.1 billion of them
Google yesterday announced that it had reached a definitive agreement with DoubleClick to acquire the company for $3.1 billion in cash. The global leader in Digital Marketing technology and services it seems to be a perfect fit for Google to expand its massive web-marketing clout.Coming less than six months after it paid up $1.65 billion for YouTube it seems Google beat of some pretty interested competition for DoubleClick, with Microsoft, Yahoo! and Time Warner all buzzing round the honey before today’s announcement.
DoubleClick themselves were actually own by two equity firms, Hellman & Friedman along with JMI, the former of which bought its stake in DoubleClick in 2005 for $1.1 billion.
"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, Co-Founder & President, Google Technology.
"Google is the absolute perfect partner for us," said David Rosenblatt, Chief Executive Officer of DoubleClick. "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."
Both companies have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of the year.
