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Google to buy DoubleClick

Internet company Google has entered into an agreement to buy online advertising company DoubleClick for US$3.1 billion. According to media reports, Microsoft, Yahoo and AOL had also sought to purchase the New York-based firm, which had sales of approximately US$300 million in 2006. The deal remains subject to approval by US anti-trust regulators. DoubleClick's majority shareholder, equity firm Hellman & Friedman, purchased its stake in the company for US$1.1 billion in 2005.

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