Mountain View (CA) - Google has expanded its online advertising business by purchasing DoubleClick for $3.1 billion. The purchase will increase Google’s presence into banner advertisements, but perhaps more importantly will force Microsoft to look for another advertising company to purchase.
Last week the Wall Street Journal reported that both Google and Microsoft were looking into buying DoubleClick for around $2 billion. Google is a giant in contextual ads placed along the sides of webpages, but it is trying to gain market share into more expensive graphical ads.
DoubleClick was created in 1996 and made $300 million in revenue last year. The $3.1 billion will be split between the two main owners Hellman & Friedman and JMI Equity and Management.
Last week the Wall Street Journal reported that both Google and Microsoft were looking into buying DoubleClick for around $2 billion. Google is a giant in contextual ads placed along the sides of webpages, but it is trying to gain market share into more expensive graphical ads.
DoubleClick was created in 1996 and made $300 million in revenue last year. The $3.1 billion will be split between the two main owners Hellman & Friedman and JMI Equity and Management.
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