The FTC's opinion also noted the robust competition in the online ad serving space, and Google's acquisition of DoubleClick is just one of several recent transactions that underscore this strong competition. In recent months, several major transactions in the online advertising space were announced, including Yahoo's acquisition of Right Media; AOL's acquisition of ADTECH AG and TACODA; WPP Group's acquisition of 24/7 Real Media; and Microsoft's $6 billion acquisition of aQuantive and acquisition of AdECN Inc.

While the FTC's opinion reaffirmed the law by noting that privacy concerns played no role in its merger review, Schmidt reiterated the company's commitment to user privacy.

"For us, privacy does not begin or end with our purchase of DoubleClick," Schmidt said.  "We have been protecting our users' privacy since our inception, and will continue to innovate in how we safeguard their information and maintain their trust."