Google expecting to close DoubleClick deal by year end

Search engine giant Google recently announced their decision to acquire advertising company DoubleClick. Google has now said that they are hopeful that the deal would be complete by end-2007 despite a U.S. federal probe.

Google CEO Eric Schmidt added in a statement: “We’re open to other (acquisitions) but there are no specific ones to announce.”

Schmidt added about the federal probe: “We are quite convinced that the proposed merger meets all appropriate U.S. Laws.”

Rival companies had claimed at the time of announcement of the deal that the combined entity would have too much control over online advertising. The complaining parties included Microsoft and AT&T.

Schmidt further said about the DoubleClick deal: “We made a decision to focus on what we’re good at.”