Google to Acquire AdMob
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Google Inc. (NASDAQ:GOOG) today announced that it has signed a
definitive agreement to acquire AdMob, a mobile display ad technology
provider, for $750 million in stock. This acquisition will enhance
Google's existing expertise and technology in mobile advertising, while
also giving advertisers and publishers more choice in this growing new
area.
"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. "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."
"I think people underestimate how important ads have been to funding the
development of innovative content on the Internet. Our goal all along at
AdMob has been to make it possible for developers and publishers to
bring their products and ideas to mobile with the same business model,"
said Omar Hamoui, Founder and CEO of AdMob. "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. As publishers and developers generate more
revenue from their mobile products, they will invest more, and their
mobile offerings will become richer, more creative and more robust.?
The deal will help Google in its efforts to develop more effective tools
for creating, serving and analyzing emerging mobile ads formats. As this
ecosystem continues to grow, the company expects these new marketing
media to offer significant benefits:
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Advertisers will be better able to engage mobile users with AdMob's ad
formats
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Publishers and developers will be able to monetize their content more
effectively, which has benefits for the wider mobile ecosystem
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Users will see more relevant ads and ultimately get access to more
ad-supported content and applications - improving their mobile
experience
"Attracting the world's top engineering talent and people with
entrepreneurial vision to Google has always been crucial to our success.
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," added Vic Gundotra, Vice President of Engineering at Google.
Both companies have approved the transaction, which is subject to
customary closing conditions.
About Google Inc.
Google's innovative search technologies connect millions of people
around the world with information every day. Founded in 1998 by Stanford
Ph.D. students Larry Page and Sergey Brin, Google today is a top Web
property in all major global markets. Google's targeted advertising
program provides businesses of all sizes with measurable results, while
enhancing the overall Web experience for users. Google is headquartered
in Silicon Valley with offices throughout the Americas, Europe and Asia.
For more information, visit www.google.com.
Google is a trademark of Google Inc. All other company and product
names may be trademarks of the respective companies with which they are
associated.
Google Inc.
Matt Furman, 650-214-5304 (Media)
mfurman@google.comMaria
Shim, 650-253-7663 (Investors)
marias@google.comRead more