Google and double click
I just got this announcement in an e-mail.
"Mountain View, CA, 4/13/2007 - Google Inc. (NASDAQ: GOOG) announced today a definitive agreement to acquire DoubleClick Inc., a global leader in digital marketing technology and services, for $3.1 billion in cash from San Francisco-based private equity firm Hellman & Friedman along with JMI Equity and management. The acquisition will combine DoubleClick's expertise in ad management technology for media buyers and sellers with Google's leading advertising platform and publisher monetization services.
The combination of Google and DoubleClick will offer superior tools for targeting, serving and analyzing online ads of all types, significantly benefiting customers and consumers:
"DoubleClick's technology is widely adopted by leading advertisers, publishers and agencies, and the combination of the two companies will accelerate the adoption of Google's innovative advances in display advertising," said Eric Schmidt, Chief Executive Officer of Google.
"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.
"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."
"When we acquired DoubleClick in July 2005, we saw an opportunity to partner with a great management team to further enhance the company's capabilities and growth trajectory," said Philip Hammarskjold, Managing Director of Hellman & Friedman. "This transaction affirms the successful transformation of DoubleClick, positions the firm for the future, and greatly benefits our investors."
Both companies have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of the year...."
You can read the rest of it here
|All times are GMT +5.5. The time now is 11:48.|