Google Acquires Mobile Advertising Firm
Google Inc. will acquire AdMob, a mobile display ad technology provider, for $750 million in stock. AdMob offers a variety of mobile advertising tools for creating, serving and analyzing emerging mobile ads formats.
“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 Susan Wojcicki, VP of product management at Google in a statement. “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.”
Omar Hamoui, founder and CEO of AdMob, will join Google as part of the transaction.
Both companies have approved the transaction.
