Microsoft Joins The Party, Buying Internet Advertisement Firm 24/7 Real Media for $1 billion

NewYork Post is reporting that Microsoft, which was previously a suitor to DoubleClick is now buying 24/7 Right Media. According to NewYork Post:

Sources said the software giant is considering a price in the $1 billion range for 24/7 Media - a giant leap from the $600 million valuation analysts placed on the firm.

Microsoft wanted to buy DoubleClick but Google crashed the party and went away with DoubleClick by spending $3.1 billion. Yahoo thought that since Google has bought DoubleClick it would be cool to own a digital ad exchange platform and acquired the remaining 80% stakes of Right Media that it didn’t already owned for $680 million, valuing the entire company at $850 million.

And now its Microsoft’s turn, the software giant is a suitor to 24/7 Real Media alongwith ad giant WPP group. Microsoft has significantly raised the bid to $1 billion almost doubling the current valuation of the company, on fears of loosing 24/7 to WPP this time and it seems that WPP will be unable to match Microsoft’s offer.

With Microsoft’s acquisition of 24/7 Real Media, their request to scrutinize Google’s acquisition of DoubleClick on anti-trust grounds will definitely go down the drain, since Digital advertisement market suddenly looks to be really competitive once again.