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Google Closes DoubleClick Deal

$3.1B Deal Approved by European Regulators

By Alex Weprin -- Broadcasting & Cable, 3/11/2008 8:25:00 AM

Google completed its acquisition of DoubleClick, an online-advertising-server and management company.

The $3.1 billion deal had to pass the muster of European regulators, which said Microsoft, Yahoo, AOL and other companies provided “credible” alternatives to the service Google would provide if the deal were completed.

“We are thrilled that our acquisition of DoubleClick has closed,” Google CEO Eric Schmidt said in a statement. “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."

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