Google will acquire online advertising firm DoubleClick from two private-equity firms for $3.1 billion, the companies announced Friday.
For Google, the deal is significant in that it gives the Web giant access to DoubleClick’s relationships with online publishers, advertisers and advertising agencies.
"It has been our vision to make Internet advertising better -- less intrusive, more effective, and more useful,” Google cofounder Sergey Brin said in a prepared statement. “Together with DoubleClick, Google will make the Internet more efficient for end-users, advertisers and publishers.”
DoubleClick, founded in 1996, was acquired in July 2005 by San Francisco-based private-equity firm Hellman & Friedman along with JMI Equity and management.
Both Google and DoubleClick said they approved the transaction. The deal is expected to close by the end of the year.
Microsoft had reportedly been locked in a bidding war with Google for DoubleClick.
