Wednesday, November 11, 2009

Google buys Admob for $750 million

Google took one step closer to digital media domination by snapping up the mobile advertising Admobfirm for a cool $750 million.

Admob helps firms advertise on mobile web sites, as well as providing the technology for serving said adverts on mobiles. It also works with applications for in-applications advertising.

The deal represents a bit of a bargain for Google, but it is counting on the mobile advertising market to grow.

Last month, Google announced that its mobile searches increased 30 per cent quarter over quarter in the third quarter. In August Admob sent out its 100 billionth mobile ad.

The deal is Google's third largest acquisition behind its 2008 purchase of Doubleclick for $3.1 billion and its 2006 buyout of YouTube for $1.65 billion.

For the full article, click here.

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