Google gets FTC approval to acquire DoubleClick

Google gets FTC approval to acquire DoubleClick

Google is now closer than ever to complete their acquisition of DoubleClick as the deal has now been approved by the U.S. Federal Trade Commission (FTC).

They now require a similar approval from the European Commission.

Google CEO Eric Schmidt said in a statement that the deal was approved in a 4-1 vote by the FTC. He added that the approval proves that the deal poses no risk to competition and will benefit consumers.

Google had announced earlier this year that they wanted to acquire DoubleClick. They are paying $3.1 billion in cash for this deal to further expand their presence in the web advertising market.

The deal has been apposed by both Microsoft and AT&T.