Google pays $3.1bn for DoubleClick
Google on Friday pulled off the biggest in a lengthening line of acquisitions as it won a bidding war with rivals Microsoft and Yahoo over DoubleClick, one of the early pioneers of online advertising.
The $3.1bn cash purchase, almost double the amount it paid in its all-stock acquisition of YouTube, will turn the search engine company overnight into one of the biggest sellers of online display advertising, a field in which it has until now been only a small player.
However, the deal represents a high price given DoubleClick's revenues, which one person familiar with the deal put at $300m-$400m, and reflects a sharp intensification of the competition between some of the internet's biggest companies as they jostle for leadership in the fast-growing online advertising markets.
Source : msnbc By Richard Waters in San Francisco
Google on Friday pulled off the biggest in a lengthening line of acquisitions as it won a bidding war with rivals Microsoft and Yahoo over DoubleClick, one of the early pioneers of online advertising.
The $3.1bn cash purchase, almost double the amount it paid in its all-stock acquisition of YouTube, will turn the search engine company overnight into one of the biggest sellers of online display advertising, a field in which it has until now been only a small player.
However, the deal represents a high price given DoubleClick's revenues, which one person familiar with the deal put at $300m-$400m, and reflects a sharp intensification of the competition between some of the internet's biggest companies as they jostle for leadership in the fast-growing online advertising markets.
Source : msnbc By Richard Waters in San Francisco
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