EU delays Google acquisition decision

14th November 2007

Google looks unlikely to receive permission to acquire DoubleClick before the end of the year.

The EU commission responsible for investigating the proposed deal in light of competition in the online advertising sector has said more time is needed to decide whether the proposed deal, valued at $3.1 billion (£1.5 billion), could go ahead.

Its executive commission said a decision would be made by April 2nd 2008 at the latest, something that has met with the disapproval of Google officials.

Chief executive officer Eric Schmidt said Google was "obviously disappointed".

He indicated the firm would work with the commission to show how the acquisition "will benefit publishers, advertisers and consumers".

Mr Schmidt added that Google wishes to avoid further delays as these might "disadvantage" it in competing against firms such as Microsoft and AOL, "whose acquisitions in the highly competitive online advertising market have already been approved".

DoubleClick has its headquarters in New York, along with a global network of 17 offices and development hubs and 14 data centres, employing over 1,300 staff, according to its website.