Google’s advertising horsepower is about to get even greater.
In a blog post Friday, Google’s vp of display advertising Neal Mohan announced that the Department of Justice had approved its $400 million acquisition of the New York-based online advertising company Admeld.
Google, which announced the proposed deal in June, said that the acquisition was cleared on Friday and will close in the coming days.
“The opportunity for major online publishers is huge . . . and growing. People are spending more and more time consuming online content across numerous devices; advertisers are running more online and mobile campaigns to reach them; and ads continue to get more engaging and relevant. This represents an unprecedented moment for publishers,” Mohan writes. “We believe that improved technology and services can help publishers seize it and make online advertising work much better.”
In his post, Mohan said that in the near term, Admeld will operate separately from Google services like DoubleClick for Publishers and the DoubleClick Ad Exchange. But, over time, he said the different businesses could integrate and eventually develop new solutions.
In a post on its site, Admeld says, "Though our mailing address may change―our mission won't. In fact, over time everything you like about working with us will get even better."