European regulators have approved Google's plan to buy online advertising giant DoubleClick. The acquisition, which has been in the works for the better part of a year will solidify Google's dominance in the advertising field. Right now Google makes most of its money through its lucrative contextual advertising system. The DoubleClick acquisition will help Google move into display ads, an area where the company is currently not as strong.Google competitors including Microsoft, Yahoo! had filed anti-trust complaints, claiming that the deal would give Google an unfair advantage in the online advertising marketplace. But EU regulators basically gave Google a pass and said the deal could go forward as is. Of course, if Microsoft manages to buy Yahoo!, (a company that has been playing hard to get), that might give Microsoft the tools to level the playing field. You know, assuming EU or US regulators don't nix the deal.
Update: According to the Official Google Blog, Google today completed its acquisition of DoubleClick.
[via TechCrunch]
