Mountain View, Nov 10: Internet behemoth, Google which is all set to take over the mobile display ad technology, on Monday, Nov 9 spent 750 million dollars in stock taking the first step towards the acquisition of AdMob.
Founded in 2006, AdMob has come to be known as the best in the field of mobile display advertising. Apart from the display ads on iPhones, it recently set up a unit focused on ads for Android phones.
AdMob founder and CEO Omar Hamoui posted a blog on Monday, Nov 9 sharing his excitement over the deal, which he believes is a milestone for those producing, consuming, or monetizing engaging products on mobile.
In the Google's blog post written by Google's Susan Wojcicki, vice president of product management and Vic Gundotra, vice president of engineering, the Internet major also expressed excitement over creating 'great mobile advertising products' to 'encourage even more growth in the mobile ecosystem'.
This friendly take over is not only to expected to bolster Google's expertise and technology in mobile advertising, but also give advertisers and publishers more choice in the area.