Google looks for deal approval

21st September 2007

Google is currently waiting to hear from the European Union competition regulator whether it has permission to buy DoubleClick, according to the European commission.

Reuters reports that the commission has set a deadline of October 26th, by which time it will decide whether to approve the deal or embark upon a further period of investigation.

Julia Holtz, competition counsel for Google, told the news provider that the firm has requested the commission review the acquisition.

"We believe this deal is positive for both users and advertisers and fosters competition," she said.

The proposed deal is expected to be worth in the region of $3.1 billion (£1.5 billion).

DoubleClick provides digital marketing technology services for a number of marketers around the world, in order to help them "make the most" of digital media.

Based in New York, the firm employs 1,300 people worldwide in its offices and data centres.