Search engine gaint Google is buying privately held Google Acquires Web Advertising Firm DoubleClick for $3.1 BillionDoubleClick, a top digital marketing services firm, for $3.1 billion, the companies said Friday afternoon. Google (Charts) is buying DoubleClick from private equity firm Hellman & Friedman, which bought DoubleClick in 2005 for $1.1 billion in a deal that took the company private.

For Google, the deal will likely help boost its presence in the area of Internet display advertising, ads on banners, videos and other non-text based types of ads.

This is Google’s next big acquisition after the Youtube deal. Google already has a popular Advertisement service “Adsense” which offers pretty much the service.

This new partnership represents a tremendous opportunity for us at Google to broaden and deepen our inventory of available ads and to better serve both our publishers and users. Together, Google and DoubleClick will empower agencies, advertisers, and publishers to collaborate more efficiently and effectively, which will, in turn, provide a better experience for our users.