Microsoft it appears is now upset that google is buying Double Click. after missing out on the deal the big IT Company is set to run off to the regulaters to have a whinge.

Microsoft, long the defendant of marathon antitrust battles against the government and technology industry, is urging regulators to take a closer look at its rival Google’s pending acquisition of advertising software company DoubleClick. Google announced the $3.1 billion deal at the weekend.

The search giant dominates the search-advertising industry but has struggled to break into other advertising areas, both online and off. DoubleClick sells software that allows publishers like AOL and News Corp. to display advertising on their Web sites. If the purchase is approved by regulators, it will enable Google to accelerate its display-advertising business, a lucrative area where Yahoo has had a lead, and expand its advantage against Microsoft.

“This proposed acquisition raises serious competition and privacy concerns in that it gives the Google DoubleClick combination unprecedented control in the delivery of online advertising, and access to a huge amount of consumer information by tracking what customers do online,” Microsoft General Counsel Brad Smith said in a statement Sunday. “We think this merger deserves close scrutiny from regulatory authorities to ensure a competitive online advertising market.”

Both Yahoo and telecommunications company AT&T are also reportedly raising antitrust concerns about the deal. When the acquisition was announced last week, Google Chief Executive Eric Schmidt said the online advertising market was very competitive.