Archive for March 5th, 2008

EC expected to approve Google-DoubleClick deal

March 05th, 2008 | Category: Google News

Google must receive unconditional approval of the European Union, regulators next week for its $ 3.1bn (£ 1.5 billion), announced the resumption of the firm DoubleClick, people familiar with the situation said.

The approval was long overdue, since the European Commission decided in January not to object formally to the transaction. The Commission has never rejected an offer without sending a formal objection.

Privacy advocates have opposed the agreement, saying it would give the two companies unprecedented access to information about consumers. The Commission said privacy do not fall within the scope of its authority over mergers.

The transaction would combine the dominance of Google pay-per-click web advertising with DoubleClick, the position of market leader in flashier display ads.

The proposed acquisition received approval from the US Federal Trade Commission (FTC) in December. For the past six years, the Commission has never rejected a merger approved by the American authorities.

The merger is part of a trend towards consolidation in the advertising industry.

Last year, Microsoft bought Aquantive $ 6bn, BlueLithium Yahoo acquired for $ 300m and AOL Tacoda purchased for an amount undisclosed.

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