Google Giant Swallows DoubleClick
Written on 10:50 AM by Unknown
Google has snapped up DoubleClick - the granddaddy of online advertising in a $3.1bn (£1.6bn) deal. The cash buyout, the biggest in Google's history, will allow the company to tighten its grip on the advertising market.
Doubleclick helps link up advertising agencies, marketers and web site publishers hoping to put ads online. In recent years, Google has been expanding into print, radio, video, mobile and TV ad markets.
News of the deal comes just six months after Google paid $1.65bn for video sharing website YouTube.
Microsoft, Yahoo and Time Warner were all said to be considering bids for the firm. New York-based Doubleclick has been majority-owned by private equity firm Hellman & Friedman since 2005, when the group paid $1.1bn for its stake.
Google's stock price dipped slightly in after-hours trading as investors wrestled with whether its victorious bid resulted in it overpaying for DoubleClick.
"Google is throwing a lot of money at things and it is not clear that they are spending wisely," analyst Rob Enderle of Enderle Group said.
"After the negative press that followed the YouTube purchase it looks like investors are looking at this acquisition more carefully. Maybe buying DoubleClick is strategic, but it is not clear they are not wasting money."
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