Microsoft announced it plans to take a goodwill write-down of $6.2 billion, largely related to its 2007 acquisition of an online advertising firm.
The company said Monday that following an annual test of each of its business units, it determined it needed to take a goodwill write-down for its Online Services Division as a result of the acquisition of aQuantive.
Microsoft bought aQuantive for $6.3 billion in cash. The Redmond, Wash., company Monday said that although the aQuantive purchase has provided it with tools for its advertising efforts, ultimately the acquisition did not provide the anticipated results. Microsoft said aQuantive did not increase growth they way it hoped.
"While the Online Services Division business has been improving, the company’s expectations for future growth and profitability are lower than previous estimates," the company said in a statement.
The write-down will be recorded in Microsoft's fourth quarter for 2012.
Microsoft said it does not expect the write-down to affects its business or financial performance.
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