Back in 1995, Harvard Business School professor James McKenney called computer costs an “insatiable economic sump” for businesses. From the time the first mainframes were installed in offices in the 1950s, companies have been pouring cash into information technology, much of it going to upgrade existing equipment and programmes.
Google will acquire DoubleClick for $3.1 billion. The all-cash buy-out is almost twice the amount Google spent to buy Youtube last year. The amount beats Microsoft who was bidding for the same at about $2 billion.