Google Inc [NASDAQ:GOOG] has confirmed their purchase of Admob, one of the best mobile advertising platforms with over 15,000 publishers. This is one of the larger deals that the search engine giant has been involved it as the sale price of this transaction equates to $750 million in stock options.
Over the years, we’ve seen Google branch out from it’s core business of internet search based ads. Some of their projects such as the Google Android operating system is being well adopted in the cell phone market while other projects such as generating strong revenue from their video streaming service YouTube has struggled.
The move to buy Admob allows Google to sell advertising on cell phones and other mobile gadgets, an area that is expected to see significant growth in the coming years. Google currently owns DoubleClick and adding Admob to the family just adds to the parent company’s expertise and technology in this niche.
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