Google (GOOG) just entered the display marketing business in a big way with the acquisition of DoubleClick Inc. The deal is for $3.1 billion in cash for the ad-management company.
This is of major importance as display advertising in its various forms is the preferred way of marketing for corporate branding. It's a huge victory for Google. I didn't think Microsoft (MSFT) was going to let them get it.
DoubleClick basically helps its customers place and track their online advertising.
The only thing that could cause problems for the deal would be if U.S. regulators, under the Hart-Scott-Rodino process, wouldn't approve of the deal because of antitrust concerns.
DoubleClick Chief Executive David Rosenblatt said he was optimistic the deal would be approved. "We believe this is a combination that will generate significant efficiencies for the market," he added.
Along with the DoubleClick Inc. management, private equity firm Hellman & Friedman and JMI Equity were the sellers of the business.
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