Microsoft buys aQuantive for $6 billion

Microsoft announced Friday it is buying online ad agency aQuantive in a $6 billion cash deal, paying top dollar to buy into the suddenly hot sector.
Microsoft paid $66.50 a share, an 85 percent premium over Thursday's close for aQuantive.

The deal is an indication of Microsoft's efforts to catch up in the growing online advertising space, and is just the latest deal in the sector, following recent moves by rivals Yahoo and Google.

"This deal takes our advertising business to a new level," said Microsoft Chief Operating Officer Kevin Johnson during a call with analysts Friday. "This allows us to take a bigger piece of that $40 billion pie that is still growing."

Read Full Article from CNNMoney.com

- Posted: 2007-05-18 10:33:03

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