Mergers and Acquistions News
Categories: Media & Information Services, Telecoms
November 12th 2009, 16:58PM
Search giant Google has announced that it has signed a definitive agreement to acquire mobile display ad technology provider Admob for $750 million (£453 million) in stock.
Google hopes the acquisition will bolster its expertise and technology in mobile advertising while opening more options for marketers and publishers in this expanding industry.
"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," commented Susan Wojcicki, vice-president of product management at Google.
The firm expects the new marketing media to allow advertisers to better engage mobile users with Admob's formats, while users themselves will be targeted with more relevant ads and have access to a wider range of content and applications.
Research commissioned by Google recently revealed that iPhone and Android users use their mobiles to browse the internet more than any other market.
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