Google boosts advertising business with acquisition of DoubleClick

By Lisa Kerner

Charlotte, N.C., March 11 - Google Inc. completed its acquisition of DoubleClick Inc. for $3.1 billion in cash, it was announced on Tuesday.

"This transaction will strengthen our advertising network by expanding our access to publisher inventory and enabling us to serve the needs of a broader set of advertisers and ad agencies," Tim Armstrong, Google's president of advertising and commerce, North America, said in a company news release.

The European Commission also announced its approval of the deal on Tuesday.

New York-based DoubleClick provides digital marketing technology and services.

Google is a leading internet search engine operator based in Mountain View, Calif.

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