Google to buy mobile ad provider

Search leader buys AdMob for $750 million, adding the mobile Internet ad server to its ranks to help advertisers target mobile users.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By David Goldman, CNNMoney.com staff writer

Grooviest gadgets through the years
The Gizmodo Gallery in New York, which opened on Sept. 23, features 80 of the coolest gadgets from today and yesteryear. Here are our 6 favorites.

NEW YORK (CNNMoney.com) -- Google said Monday that it plans to pay $750 million in stock for AdMob, a company that provides display advertising technology for mobile Internet sites.

The search giant said the acquisition will help the company's advertising partners improve how they target mobile Web users, as well as refine advertising formats to get end-users to click on more ads. All of that will ultimately help advertisers to more effectively monetize their mobile ads, said Google.

"We're proud of the progress we've made towards accomplishing this goal, and joining Google will only accelerate this process, ultimately leading to very real benefits for end users around the world," said AdMob Chief Executive Omar Hamoui in a statement.

Founded in 2006, AdMob serves mobile Internet ads for companies like Ford (F, Fortune 500), Coca-Cola (KO, Fortune 500) and Procter & Gamble (PG, Fortune 500).

"While this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time," said Susan Wojcicki, Google's vice president of product management, in a statement.

This is the latest in a series of recent moves by Google (G) to streamline advertising for companies that use Google's Internet ad tools. In September, Google introduced its DoubleClick Ad Exchange, improving advertisers' ability to target end users with display ads.

Google said mobile advertising is a growing new area that has "enormous potential as a marketing medium." The purchase of AdMob compliments Google's full-steam-ahead push into mobile phones, namely by growing the number of phones that use its Android open operating system platform. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
Graffiti about crisis fills Athens' streets Artists are taking to the streets to express their views on the Greek crisis. More
My whirlwind 24 hours in Taiwan as a bridal supermodel Unlike the West, Taiwanese brides-to-be sit for hun sha ?? photo sessions before their actual wedding day. The photos are seen as a status symbol as well as a way to capture the brides' youth and glamor. More
8 startups that'll make your travel experience so much better Here are the new travel apps and services that will make trips easier, less time-consuming, and more fun for the every day business traveler. More
Sponsors
Worry about the hackers you don't know 
Crime syndicates and government organizations pose a much greater cyber threat than renegade hacker groups like Anonymous. Play
GE CEO: Bringing jobs back to the U.S. 
Jeff Immelt says the U.S. is a cost competitive market for advanced manufacturing and that GE is bringing jobs back from Mexico. Play
Hamster wheel and wedgie-powered transit 
Red Bull Creation challenges hackers and engineers to invent new modes of transportation. Play