MS to write down 6.2 bn for aQuantive acquisition

Microsoft Corp admitted its largest acquisition in the Internet sector was effectively worthless and wiped out any profit for the last quarter,as it announced a 6.2 billion charge to write down the value of an online advertising agency it bought five years ago.

The announcement came as a surprise,but did not shock investors,who had largely forgotten Microsofts purchase of aQuantive in 2007,which was initially expected to boost Microsofts online advertising revenue and counter rival Google Incs purchase of digital ad firm DoubleClick.

The worlds largest software company said in a statement that the acquisition did not accelerate growth to the degree anticipated,contributing to the write-down.

Microsoft bought aQuantive for 6.3 billion in cash in an attempt to catch rival Google Inc in the race for revenues from search-related display advertising.