Google has purchased Teracent – and in the news story in the New York Times it gave this description of the company’s market which I thought was funny:

Google has bought a Silicon Valley startup that customizes the online billboards known as display advertising.

Online billboards indeed! This deal was known to be happening fairly broadly, though the acquisition price I had heard rumored was a high one, which seemed too high. Will be great to understand some of the thinking behind the deal, but hard to go wrong with Google probably as an acquirer. Congrats to the Teracent team!