DoubleClick Sells For $1.1 Billion

Well-known Internet advertising firm will be purchased by a San Francisco buyout concern.

A finalized agreement for the sale of DoubleClick to Hellman & Friedman LLC should be completed today.

DoubleClick stockholders stand to earn $8.50 per share, a premium of approximately %10 over the 30-day closing average.

The deal should be completed in six months. After closing, DoubleClick CEO Kevin Ryan will depart and pursue other opportunities.

David Utter is a staff writer for WebProNews covering technology and business. Email him here.