Google wins DOJ approval for Admeld buy
The company says that it will close the $400 million acquisition in the "coming days" and then get down to eventually bringing Admeld into the fold.
The U.S. Department of Justice has given Google the go-ahead to complete its $400 million acquisition of AdMeld.
"The Antitrust Division obtained extensive information from Google, Admeld and a wide range of market participants in connection with its merger investigation of the proposed transaction," the Justice Department said in a statement today. "After a thorough review of the evidence, the division concluded that the transaction is not likely to substantially lessen competition in the sale of display advertising."
Google announced plans to acquire Admeld in June. The search giant said at the time that the deal would "make display advertising simpler, more efficient and more valuable, provide improved support and services, and enable publishers to make more informed decisions across all their ad space."
Admeld chief Michael Barrett echoed that sentiment in a blog post today announcing the Justice Department's decision, saying that he believes the combined companies will do a better job of serving "premium publishers."
Google said in a separate blog post that it plans to close the Admeld deal within the "coming days." For now, the companies will remain separate, but plan to "talk about opportunities for integration and simplification" in the near future.
With the Admeld deal now complete, Google can direct all of its regulatory attention toward Motorola Mobility. U.S. and European regulators are expected to make their decision on the $12.5 billion deal early next year.