The controversial attempt to purchase internet advertising firm DoubleClick by Google has received approval from the US Federal Trade Commission (FTC).In a statement clearing the deal, the FTC rejected any current or potential competition concerns, saying that Google and DoubleClick are firms that complement each other, rather than being in competition.
According to the commission, while Google's current business plan predominantly involves the selling of text-based ads, DoubleClick's operations are centred on the delivery and reporting of display ads.
The statement went on to say that DoubleClick does not buy or sell ads or advertising space, but rather it provides technology to enable publishers and advertisers to deliver ads once they have agreed to certain terms, as well as giving these organisations statistics relating to the ads.
Commenting on the clearance, Eric Schmidt, chairman and chief executive officer of Google, said: "The FTC's strong support sends a clear message: this acquisition poses no risk to competition and will benefit consumers.
"We hope that the European commission (EC) will soon reach the same conclusion and we are confident that this deal will deliver more relevant ads for consumers, more choices for advertisers and more opportunities for website publishers."
The search engine provider cannot close the deal until and unless the EC, which is in the process of examining the transaction, also grants clearance.
After conducting an initial market investigation which it stated "indicated that the proposed merger would raise competition concerns", the EC is set to make its final ruling prior to April 2nd 2008.
