Google has announced that they have signed an agreement to acquire AdMob, a mobile display advertising company based in San Mateo, CA.
AdMob is a mobile advertising marketplace that connects advertisers with mobile publishers. They allow advertisers to create ads, choose landing pages and target their ads with plenty of detail. Ads can be targeted to locations, carriers, phone platforms and phone manufacturers.
Google believes the deal will be beneficial for both publishers and advertisers. "For publishers of mobile websites and applications, this deal will mean better products and tools and more effective monetization of their content — allowing them to focus more on their users and less on how to generate revenue" said Vic Gundotra, Vice President, Engineering at Google.
For advertisers the deal is expected to bring better and more relevant ads with greater reach. It will also mean more interesting, engaging ad formats.
"We believe users will benefit from this deal — through more mobile content and through better mobile ads that deliver useful information. And that's good for all of us" said Susan Wojcicki, Vice President, Product Management at Google.
"We've benefited from the advice and support of the best investors and advisers in the world. We've had tremendous publishers, advertisers, and partners. We're very excited by all the very real benefits this will bring for them. Our ads will become more relevant, our products more robust, and our monetization capabilities more significant. Most importantly, I've had the honor of working with a team of people that were all, top to bottom, completely committed to our mission" said Omar Hamoi, founder of AdMob. Omar founded AdMob in 2006 when he couldn't find good ways to generate traffic for his mobile site. Over the past few years, AdMob has grown into a thriving company with impressive mobile advertising products. Welt Online says the deal is worth $750 million in stock.
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