Breaking – Microsoft to Acquire aQauntive for $6 billion
Microsoft has finally found its online advertising partner, with news that it will acquire aQuantive. After missing out on DoubleClick to Google, watching Yahoo pick up Right Media and WPP buying 24/7 Real Media, Microsoft decided to go “all in” with a $6 billion cash deal, paying $66.50 a share!
“The advertising industry is evolving and growing at an incredible pace, moving increasingly toward online and IP-served platforms, which dramatically increases the importance of software for this industry,” said a statement from Microsoft CEO Steve Ballmer. “Today’s announcement represents the next step in the evolution of our ad network.”
It’s share price has already jumped 78% on the news!