Google Inc said on Monday that it was acquiring of AdMob, one of the largest mobile advertising networks, for $750 million, widening its bet that cell phone advertising could become the Internet's next-big money maker.
Google's agreement to buy AdMob in an all-stock deal would give it a key asset as it seeks to extend the reach of its online advertising business from the tethered world of PCs to the smartphones that consumers increasingly use to access the Web while on-the-go.
Google's free Android operating system already provides the basic software that powers many of the newer phones, including the recently released Motorola Inc Droid, and which compete with Apple's popular iPhone.
More: http://www.reuters.com/article/idUSTRE5A83ZF20091110
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Google's agreement to buy AdMob in an all-stock deal would give it a key asset as it seeks to extend the reach of its online advertising business from the tethered world of PCs to the smartphones that consumers increasingly use to access the Web while on-the-go.
Google's free Android operating system already provides the basic software that powers many of the newer phones, including the recently released Motorola Inc Droid, and which compete with Apple's popular iPhone.
More: http://www.reuters.com/article/idUSTRE5A83ZF20091110
