Google Officially Owns DoubleClick

On March 11, 2008 Google Inc. (NASDAQ: GOOG) officially announced the completion of their formal acquisition of major advertising firm DoubleClink Inc., for US$ 3.1 Billion in cash from equity firm Hellman & Friedman. The purchase, originally announced nearly a year ago, has had it’s fair share of detractors and legal hurdles to clear before going ahead, with the Federal Trade Commission (FTC) grinding negotiations to a halt shortly after the original announcement. However, the FTC finally gave the green light on the deal in DecemberDoubleClick Inc, is a premier provider of digital marketing technology and services. The world’s top marketers, publishers and agencies utilize DoubleClick’s expertise in ad serving, rich media, video, mobile, search and affiliate marketing to help them make the most of the digital medium. From its position at the nerve center of digital marketing, DoubleClick provides superior insights and insider knowledge to its customers.

With the acquisition of DoubleClick Inc, Google Inc. (NASDAQ: GOOG) now has the leading display ad platform, which will enable them 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.

According to Startup Earth, Google CEO Eric Schmidt has warned existing employees of Doubleclick that the search giant has not yet decided who they will fire from the online advertising firm, and has ordered doubleclickers to submit their resumes to a Google committee for immediate review. Here’s a snippet from the post:

“The move is said to affect employees in every department, who will have to prove not only that they are capable of fulfilling their previous roles, but also that they are “Google material”, which could leave many veteran employees with virtually no job security pending a personal review. Doubleclick employees at all levels are said to be furious and deeply concerned by the effect this acquisition will have on personnel, and many are looking at their options.”

One of the more obvious areas where Google may downsize is within the DoubleClick owned search marketing company Performics. It’s been noted that when Google acquired DoubleClick, they also acquired Performics, making them the owners of a search engine optimization and link building company.

– Sakin