In a move designed to strengthen its position as a one-stop shop for online advertising, Internet search giant Google Inc. has agreed to pay $3.1 billion for DoubleClick Inc., a major provider of technology and services for running online ads.
“Google has relationships with hundreds of thousands of online advertisers, from top corporations to a slew of mid-size and small companies,” David Hallerman, senior analyst for research firm eMarketer, says in a report issued today. “DoubleClick has relationships with thousands of large Web publishers. Together, Google and DoubleClick will create a robust one-stop shop for all types of online advertising purchases.”
Tim Armstrong, Google’s president of advertising and commerce, says the deal will increase Google’s ability to serve retailers. "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," he says.
Adds Sergey Brin, Google’s co-founder and president of technology, "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."
David Rosenblatt, CEO of DoubleClick, adds, "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."
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