Wednesday, July 13, 2005

DoubleClick Stockholders Approve Acquisition

New York-based Internet advertising firm DoubleClick reported this morning that its shareholders have approved the merger agreement that allows private equity firms Heller & Friedman LLC and San Diego-based JMI Equity to acquire the company. DoubleClick provides technology and data to advertising agencies and web publishers. The $1.1B buyout of DoubleClick takes the firm private and off of the NASDAQ. Private equity firms have increasingly buying technology firms in hopes of increasing their value. The firms acquire companies to grow them away from the public eye, with the intent to bring the companies back to public markets or sell them for a gain in a number of years.