Today, Google Inc. announced that it has filed for European Union permission to go through with the takeover of DoubleClick. The deal, worth $3.1 billion has been the center of controversy since the announcement of the initial steps of the acquisition.
Google’s antitrust counsel Julia Holtz said in a statement to the Associated Press, “We asked the European Commission to look at the proposed acquisition. We believe this deal is positive for both users and advertisers and fosters competition.”
Yahoo Inc. has been quite vocal in the press about the deal. Toby Coppel, Yahoo’s Europe managing director was quoted to say, “These questions warrant an in-depth debate and review by a broad range of Internet publishers, advertisers, service providers and governments in Europe and elsewhere.”
Microsoft, who also looked to buy DoubleClick maintained its view that this acquisition raises “serious competition and privacy concerns.”
Privacy advocates raise their own concerns over the possible solutions to the antitrust issue in the acquisition. Should Google share the information collected, there may be a violation of consumers’ rights in keeping personal information, private.
Google made the request of the EU regulators to look at “all aspects of the transaction” two months ago. The EU has a 25 working day period to make a decision or have the option of going into a larger investigation and decide in four months.