Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Google to buy mobile ad network for $750 million

Ap
Monday 09 November 2009 19:10 GMT
Comments

Google is stepping up its push to sell advertising on cell phones, announcing a deal Monday to buy a mobile ad network, AdMob, for $750 million (£449 million) in stock.

Google already has a mobile ad delivery system, DoubleClick Mobile, which it got with its $3.2 billion (£1.9 billion) acquisition of DoubleClick Inc. in 2008. Google said buying AdMob will give it more expertise in a market that is expected to grow rapidly over the next several years.

Google shares rose $9.84, or 1.8 percent, to $560.94 in afternoon trading.

Omar Hamoui founded AdMob in 2006. The company, which is based in San Mateo, California, provides a market for advertisers to buy space on Web sites geared for mobile devices.

"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," Susan Wojcicki, Google's vice president of product management, said in a statement.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in