In a press release this morning, Microsoft announced the acquisition of advertising network aQuantive for $6 billion in an all-cash transaction. This acquisition from Microsoft comes after they lost DoubleClick to Google in a recent bid war. Yahoo! followed Google by acquiring Right Media for $680 million.
Microsoft CEO, Steve Ballmer said: “Today’s announcement represents the next step in the evolution of our ad network from our initial investment in MSN, to the broader Microsoft network including Xbox Live, Windows Live and Office Live, and now to the full capacity of the Internet. Microsoft is intensely committed to creating a thriving advertising business and to partnering closely with all key constituencies in this industry to help maximize the digital advertising opportunity for all.”
Microsoft seems to be happy with the price they paid for aQuantive and they still have the fire power acquire more. Thanks to the $28.2 billion profits generated by them at the end of last quarter. Ryan from Cybernetnews speculates that Microsoft might be eying for Zoho, to cope up with the office-like applications being developed by Google.
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