Google has welcomed the U.S. Federal Trade Commission's clearance of its planned acquisition of DoubleClick Inc., a provider of display ad serving technology and services. Google announced in April 2007 a definitive agreement to acquire the company for $3.1 billion in cash from San Francisco-based private equity firm Hellman & Friedman along with JMI Equity and management. The acquisition was approved earlier this year by the Australian Competition and Consumer Commission and was recommended for approval by one of three Brazilian regulatory agencies. Google cannot close the acquisition until the European Commission, which is still examining the transaction, grants clearance of the deal.
In its clearance opinion released, the FTC explicitly rejected any current or potential competition concerns. Google and DoubleClick are complementary businesses and do not compete with each other. Google's current business primarily involves the selling of text-based ads, while DoubleClick's core business is delivering and reporting on display ads. DoubleClick does not buy ads, sell ads, or buy or sell advertising space. Rather, it provides technology to enable advertisers and publishers to deliver ads once they have agreed to terms, and to provide advertisers and publishers statistics relating to those ads.