- Facebook Fiasco: 10 Things Underwriters Got Wrong
- Sticker Shock: What College Is Likely to Cost in 18 Years
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- What Happened to Stocks? Most Unloved in 50 Years
- Icahn Raises Stake in Chesapeake, Wants Board Seats
- Citigroup Lost $20 Million on Facebook IPO Trades
- Break Up JPMorgan: Sheila Bair
- Main Players in the Greek Election
- Many Greeks Moved Their Money Abroad Long Ago
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
MOST SHARED
- Citigroup Lost $20 Million on Facebook IPO Trades
- Spanish Lender Seeks 19 Billion Euros; Ratings Cut on 5 Banks
- Astronauts Snare SpaceX Rocket
- Carl Icahn Increases Stake in Chesapeake, Demands Board Seats
- Marc Faber: 100% Chance of Global Recession
- The Key to a Successful Turnaround
- Your First Move For Tuesday May 29th
- Oil Declines, but Doesn't Help European Consumers
- Senate Summons Dimon to 'Get to the Bottom' of JPM Mess
- Kansas City Fed President Steps Into Jamie Dimon Debate
MOST POPULAR
HOT ON FACEBOOK
Google Agrees to Buy DoubleClick For $3.1 Billion In Cash
Text Size 
 |
Paul Sakuma / AP Google Inc. headquarters in Mountain View, California. |
The deal represents the largest acquisition in Google's history and comes just six months after Google [GOOG
Loading...
()
] paid $1.65 billion to acquire video-sharing site YouTube. Terms of the deal call for Google to pay cash to DoubleClick investors.
The DoubleClick acquisition promises to fortify Google, the juggernaut of search-based advertising on the Web, as it expands into print, radio, video, mobile and TV ad markets. The combination should also bolster the ad targeting and analysis capabilities that Google can offer advertising customers.
DoubleClick, a dot-com stock market star and leading independent player in the first generation of online advertising during the 1990s, has been majority-owned by San Francisco private equity firm Hellman & Friedman since 2005.
Hellman & Friedman paid $1.1 billion in stock and debt for its stake. JMI Management is a co-investor in the company.
The Wall Street Journal had reported last week that Microsoft [MSFT
Loading...
()
], which was involved in bidding for DoubleClick, pulled back after the auction price rose above $2 billion. Yahoo! [YHOO
Loading...
()
] and Time Warner's [TWX
Loading...
()
] Internet division AOL were also said to have eyed a DoubleClick bid.
New York-based DoubleClick was the most successful Internet start-up to emerge out of so-called Silicon Alley, the downtown Manhattan corridor that gave birth to dozens of start-ups which sought to move Madison Avenue advertising online.
DoubleClick, founded in 1996, offers a digital marketplace that connects advertising agencies, marketers and Web site publishers seeking to place online ads. It has more than 1,500 corporate clients.
The company hired investment bank Morgan Stanley [MS
Loading...
()
] in March to help explore its options, including a possible stock market listing. Hellman & Friedman set a price tag of at least $2 billion for the advertising company, according to a Wall Street Journal report late last month.
Shares of Google, which dipped $1.10 in regular session trading on Nasdaq ahead of the news, fell another $3.28 to $463.01 in after-hours trade following the announcement, a roughly 1%decline on the day.
- The Nasdaq has suffered the most from the EU crisis showing there's risk in the usual tech stocks.
- Targeting more Millennials is just one of the items brewing for consumers in the world of spirits.
- It seems many people may need a reminder of how NOT to act on a plane. Here are a few tips.
- Here are some very unusual roadside stops along American highways that might peek your interest.
- How three generations of Americans are dealing with the finances of retirement.
Data is a real-time snapshot *Data is delayed at least 15 minutes
