The Department of Justice has requested more information from Google about its pending acquisition of online ad firm AdMeld, the search giant confirmed. Google said it has been working with DOJ for the last month since the agency is "obliged to review the transaction because of its purchase price." As a result, DOJ sent Google a "second request" for more data, Neal Mohan, vice president of display advertising at Google, said in a blog post.
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DOJ Taking Closer Look at Google, AdMeld Deal Chloe Albanesius By Chloe Albanesius
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AdMeld
The Department of Justice has requested more information from Google about its pending acquisition of online ad firm AdMeld, the search giant confirmed Wednesday.
Google said it has been working with DOJ for the last month since the agency is "obliged to review the transaction because of its purchase price." As a result, DOJ sent Google a "second request" for more data, Neal Mohan, vice president of display advertising at Google, said in a blog post.
"This doesn’t surprise us, as today’s display advertising industry is very new and highly complex," Mohan wrote. "But we’ll work to enable this review to be concluded as quickly as possible—display advertising is highly competitive and fast moving, and we don’t want our efforts to bring better services to our clients to be delayed."
Google announced plans to acquire AdMeld in June. Though it did not reveal a purchase price, the deal was reported to be worth about $400 million.
In the blog post, Mohan discussed why Google believed the acquisition will allow the market to remain competitive. He pointed to three recent deals in the space (a real-time bidding platform from Lijit Networks;ad firms integrating with ContextWeb; and AMP Exchange, a joint venture between Collective and AppNexus) and said analysts have noted that it's easy to switch suppliers.
"While the Department of Justice works to finish their review, it’s business as usual for our clients, and we’ll continue to actively work to improve our solutions for our partners in the display advertising space," Mohan concluded.
Google has been building its online advertising arsenal for some time. The search giant shelled out $3.1 billion for DoubleClick in 2007; the deal gained final approval in March 2008. In November 2009, Google announced plans to acquire mobile ad firm AdMob, and that deal was finalized in May 2010.
For more from Chloe, follow her on Twitter @ChloeAlbanesius.
For the top stories in tech, follow us on Twitter at @PCMag.
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