Here's a friday treat for Google. The U.S. Department of Justice has approved the Mountain View, Calif.-based giant's proposed acquisition of AdMeld, a New York-based company that specializes in online and display advertising for large publishers.
The Washington Post reports that the Justice Department approved the deal because there are still enough competing companies similar enough to AdMeld still in the playing field.
Google first announced its intention to buy out AdMeld back in June for the reported sum of $400 million amidst reports that Google wants to beef up its display advertising arm. Google confirmed those thoughts to some extent a few days later.
Neal Mohan, Google's vice president of display advertising, explained on the official Google blog as to where Google plans to do with AdMeld in the long run:
- We want to give publishers more control over their ad space, and offer more flexible ways to manage and sell it. Publishers’ businesses should influence the technology they use; not the other way around.
- We believe that publishers can make better decisions to maximize their revenues when they have better insights at their fingertips.
- We envisage a much simpler system that enables publishers to manage and sell their ad space—across desktop, video, mobile, tablets and more.
Yet, AdMeld’s products will actually operate separately to Google’s existing solutions, such as DoubleClick for Publishers and the DoubleClick Ad Exchange.
Mohan went so far as to boast that "content produced by Google’s and Admeld’s publisher partners is the lifeblood of the Internet."
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