Google Moving Forward With Admeld Aquisition
Google Inc. (NASDAQ:GOOG) received approval from the U.S. Department of Justice to move forward with its $400 million Admeld acquisition.
In a statement by the Justice Department, “The Antitrust Division obtained extensive information from Google, Admeld and a wide range of market participants in connection with its merger investigation of the proposed transaction. After a thorough review of the evidence, the division concluded that the transaction is not likely to substantially lessen competition in the sale of display advertising.”
Google announced its plans to acquire Admeld in June on its official corporate blog. The company said the deal would “make display advertising simpler, more efficient and more valuable, provide improved support and services, and enable publishers to make more informed decisions across all their ad space.”
Both companies commented on the Justice Department’s decision with Google writing that the Admeld deal should close within the “coming days” and for now, the two companies will operate separately; however, there are plans to “talk about opportunities for integration and simplification” in the immediate future.
Admeld CEO Michael Barrett wrote on his corporate blog that the two joint companies will do a improved job serving “premium publishers.”
The battle for mobile advertising dominance has only just begun. AOL (NYSE:AOL) CEO Tim Armstrong just announced a priority for this nascent sector, Apple (NASDAQ:AAPL) has been pushing their iAds product, and Microsoft (NASDAQ:MSFT) has also been putting more weight behind mobile advertising lately. It remains to be seen whether Yahoo (NASDAQ:YHOO) makes a serious move in the space soon.
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