Google Cleared to Buy DoubleClick
The European Union has officially give the thumbs up for Google to acquire DoubleClick.
In a statement Tuesday morning, the European Commission said it has cleared the proposed acquisition after an “in-depth market investigation” concluded that the transaction would be unlikely to have harmful effects on consumers.
“The Commission’s in-depth market investigation found that Google and DoubleClick were not exerting major competitive constraints on each other’s activities and could, therefore, not be considered as competitors at the moment,” the statement read. “Even if DoubleClick could become an effective competitor in online intermediation services, it is likely that other competitors would continue to exert sufficient competitive pressure after the merger.”
In short, this acquisition just isn’t anti-competitive, as some who dislike Google would like to claim.
Google is happy with the deal. They claim that they now have the largest online ad platform.
“With DoubleClick, Google now has the leading display ad platform, which will enable us to rapidly bring to market advances in technology and infrastructure that will dramatically improve the effectiveness, measurability and performance of digital media for publishers, advertisers and agencies, while improving the relevance of advertising for users,” Google CEO Eric Schmidt said in the statement.
Here’s hoping they can afford to increase rates for adsense publishers now.
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This ought to be interesting especially since Google already controls over 60% of all Internet searches.
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