Google Buys Doubleclick Ads competitor to gain strong presence in Corporate Ad Market
Companies / Google Apr 13, 2007 - 10:25 PM GMTBy: Shahla_Walayat
In a highly competitive bid for Doubleclick, google won against rival offers from the likes of Microsoft and Yahoo.
The move pushes Google deeper into competition with Yahoo for corporate video advertising and reinforces googles position as the number 1 in overall online advertising. The acquisition will enable Google to gain a strong presence in systems and software used to serve video advertising on corporate website's such as Major New publishers, Forbes etc. As research indicates that consumers tend to interact more with video ads than other types of ads.
Google has paid a heavy premium to beat the competition for Doubleclick at a price tag of $3.1 billion. The owners of Doubleclick paid some $1 billion for it following the fallout from the dot com crash.
This acquisition comes on the back of Googles takeover of Youtube last year for $1.5 billion.
The Google share price was little changed on the news at $466, and has under performed the market since hitting a peak in late November 06 of approx $510.
The doubleclick.com website was offline as of the takeover, presumably in advance of a corporate makeover ?
By Shahla Walayat
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