Microsoft buys online ad firm Aquantive for $6 billion
Licensed archive · Attributed source reporting
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Microsoft have today paid $6 billion (£3 billion) for the online marketing firm Aquantive. The takeover will pave the way for Microsoft to expand into the $40 billion online advertising market currently dominated by Google and Yahoo!. Kevin Johnson, the head of Microsoft's platforms and services division, said "This deal takes our advertising business to a new level" and follows the recent acquisitions by Google and Yahoo who bought DoubleClick for $3.1 billion, and the remaining 80% of Right Media Exchange for $680 million respectively. Aqu
Microsoft have today paid $6 billion (£3 billion) for the online marketing firm Aquantive. The takeover will pave the way for Microsoft to expand into the $40 billion online advertising market currently dominated by Google and Yahoo!.
Kevin Johnson, the head of Microsoft's platforms and services division, said "This deal takes our advertising business to a new level" and follows the recent acquisitions by Google and Yahoo who bought DoubleClick for $3.1 billion, and the remaining 80% of Right Media Exchange for $680 million respectively.
Aquantive will remain at its base in Seattle with its current staff of around 2.600, but will work as part of Microsoft's online operations.
The deal is expected to be completed by early 2008, subject to regulation.
Sources
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Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 18 May 2007, 05:30 am IST
