It’s official, according to a press release earlier today:
Google Inc. (NASDAQ: GOOG) announced today that it has agreed to acquire YouTube, the consumer media company for people to watch and share original videos through a Web experience, for $1.65 billion in a stock-for-stock transaction. Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community.
This is big news for YouTube who now don’t have to worry about expenses and can focus on building market share, solving their copyright issues, and being the #1 online video provider. How they will merge with Google Video is of yet unclear, but the immediate impact on Google’s share price is obvious, up $20 since the start of the month:
Congrats to both YouTube and Google. May you both integrate well! (See TechCrunch for more)
|This entry was posted on Monday, October 9th, 2006 at 7:06 pm and is tagged with . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback.|