Microsoft Writing Off Almost All $6.3 Billion For aQuantive
Microsoft said earlier this week that they are taking a $6.2 billion non-cash charge to account for the acquisition of Internet advertising company aQuantive. Microsoft acquired the company in 2007 for $6.3 billion.
“While the aQuantive acquisition continues to provide tools for Microsoft’s online advertising efforts, the acquisition did not accelerate growth to the degree anticipated, contributing to the write down,” said Microsoft.
Microsoft said that market share of Bing has been growing and so has the amount of revenue they receive per search. Microsoft said that “while the Online Services Division business has been improving, the company’s expectations for future growth and profitability are lower than previous estimates.”