In a push to expand its digital advertising empire to cellphones, Google has agreed to acquire AdMob, a fast-growing mobile advertising start-up, for US$750m in stock, The New York Times reports.
AdMob is one of the top sellers of banner ads on iPhone applications and Web pages that can be retrieved from mobile phones. The acquisition could help establish Google as an early leader in the small but rapidly expanding mobile phone advertising business.
“The deal shows that Google is serious about becoming a major player in the mobile advertising ecosystem,” said Neil Strother, an analyst with Forrester Research. “It puts Google in the front-runner position.”