Last week's reports of DoubleClick's imminent acquisition were confirmed today, as the company announced a few minutes past midnight that it signed an agreement to be acquired by private equity firm Hellman & Friedman LLC of San Francisco. The firm will pay $1.1 billion, or $8.50 a share, a bit less than it currently trades, but about 15 percent more than it has been trading in the recent past. DoubleClick's stock price closed at $8.57 on Friday. The deal is expected to close in the third quarter. As widely predicted, its CEO and board of directors will be changed out.

On Friday, DoubleClick reported an earnings loss of a penny a share for the first quarter, despite a 12 percent sales increase for the period. Investing alongside Hellman & Friedman will be JMI Equity, a San Diego venture capital firm focused on the software and business services industries.

DoubleClick will host a conference call today, at 10 a.m. Eastern Time, to discuss the transaction. The webcast of the call will be listenable from DoubleClick's site.