Microsoft acquires online ad agency aQuantive for $6 bn

NEW YORK: Microsoft Corporation, the world’s largest software maker, agreed to buy aQuantive in a transaction valued at about $6 billion to expand its online advertising services.

aQuantive shareholders will receive $66.50 in cash, Redmond, Washington-based Microsoft said in a statement distributed by PR Newswire on Friday. The offer is almost double aQuantive’s closing share price on Thursday.

The purchase responds to Google’s announcement last month that it would acquire aQuantive competitor DoubleClick for $3.1 billion. Both companies make software for creating and measuring Internet ad campaigns.

Early trading of aQuantive shares was halted. The stock rose $1.47, or 4.3%, to $35.87 in Nasdaq Stock Market trading on Thursday and has jumped 45% this year.