Google this week announced plans to acquire mobile display ad technology provider AdMob in a deal worth some $750 million in stock.
The acquisition, once completed, will beef up Google's existing mobile advertising tech and provide more choice for advertisers and publishers, according to the search giant.
"Mobile advertising has enormous potential as a marketing medium and 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, vice president of product management at Google, in a statement.
"AdMob is the quintessential Silicon Valley startup generating impressive year on year revenue growth and we're excited to welcome this talented team to Google."
Google also claims that the move will help it create better tools for the development, delivery and analysis of emerging mobile ad formats, to the benefit of the entire ad ecosystem.
"Attracting the world's top engineering talent and people with entrepreneurial vision to Google has always been crucial to our success," said Vic Gundotra, vice president of engineering at Google, in a statement.
"AdMob's proven track record in innovating at speed will help maintain that culture which is why we are so excited to be working with them."
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