Google’s VP of display advertising Neal Mohan has announced that the Department of Justice has approved the company’s $400 million acquisition of Admeld. Announced in June, the deal for the New York-based online advertising company will close in the coming days.
“The opportunity for major online publishers is huge … and growing. People are spending more and more time consuming online content across numerous devices, advertisers are running more online and mobile campaigns to reach them; and ads continue to get more engaging and relevant. This represents an unprecedented moment for publishers,” Mohan writes. “We believe that improved technology and services can help publishers seize it and make online advertising work much better.”
“For now, it’s business as usual-Admeld’s products will operate separately to Google’s existing solutions (such as DoubleClick for Publishers and the DoubleClick Ad Exchange),” he added. “But over time, there are opportunities to bring the best of both businesses together in a variety of ways; and to develop entirely new solutions, too.“
“Google is buying Admeld because they believe in our mission to serve premium publishers with the highest level of technology and expertise,” noted Ad Meld’s Michael Barrett. “Though our mailing address may change-our mission won’t. In fact, over time everything you like about working with us will get even better.”
Source: AdWeek
