After much speculation, Google has indeed acquired advertising network DoubleClick for $3.1 billion.
DoubleClick, founded in 1996, offers a digital marketplace that connects advertising agencies, marketers and Web site publishers seeking to place online ads. It has more than 1,500 corporate clients.
As the NYT points out, the acquisition gives Google firm footing in display advertising and a ready made list of client relationships.
â€œGoogle really wants to get into the display advertising business in a big way, and they donâ€™t have the relationships they need to make it happen,â€ said Dave Morgan, the chairman of Tacoda, an online advertising network. â€œBut DoubleClick does. It gives them immediate access to those relationships.â€