It is official: Google pays $3.1 billion cash for DoubleClick
Written on April 13, 2007 – 5:00 pm | by admin
Google has closed a deal to buy DoubleClick for $3.1 billion in cash as the companies announced today. DoubleClick is another advertising network that has been around for more than 10 years and barely survived the dotcom crash of the late nineties. The company has an inventory of more than 1,500 partners. Google was in a race against Microsoft for buying DoubleClick. Obviously, Google is trying to increase its rich and branch out to more than contextual advertising since DoubleClick specializes in display advertising including video.
“This transaction will strengthen our advertising network by expanding our access to publisher inventory and enabling us to serve the needs of a broader set of advertisers and ad agencies,” said Tim Armstrong, President, Advertising and Commerce, North America, Google.
More importantly, Google maybe after one of DoubleClicks recently developed technologies that allows a “Nasdaq-like exchange for online ads, brings Web publishers and advertising buyers together on a Web site where they can participate in auctions for ad space.” The application has implication both for online advertising but also offline such as television and newspapers and area that Google has been trying to enter for a while now but with little success.
Read more in the New York Times.