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Business

Google to acquire mobile ad firm in 750 million dollar deal

Text by News Wires

Latest update : 2009-11-09

The acquisition of AdMob is the third most important in Google's history, after online ad agency Double Click and Youtube, and gives the Internet giant crucial leadership in the fast growing mobile advertising market.

AFP - Google announced Monday it is buying smartphone ad specialty firm AdMob in a 750-million-dollar stock deal.
  
Google hopes AdMob will help it more effectively extend its lucrative Internet advertising domain into the booming world of mobile devices.
  
"Mobile advertising has enormous potential as a marketing medium and while this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time," said Google vice president of product management Susan Wojcicki.
  
"AdMob is the quintessential Silicon Valley startup -- generating impressive year on year revenue growth -- and we're excited to welcome this talented team to Google."

Date created : 2009-11-09

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