S&P: DoubleClick on positive watch

Standard & Poor's said it placed its B corporate credit rating on DoubleClick Inc. on CreditWatch with positive implications following the announcement by Google Inc. (unrated) that it has a definitive agreement to acquire DoubleClick from Hellman & Friedman LLC, JMI Equity and management for $3.1 billion in cash.

Because of DoubleClick's display advertising technology and relationships with advertisers and publishers, the agency said that the acquisition will certainly accelerate Google's entry into the display advertising market.

The transaction is expected to close by the end of the year and must go through antitrust review by U.S. regulators under the Hart-Scott-Rodino Antitrust Improvements Act, S&P noted.

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