While maybe not quite as notable or game-changing as its acquisition of YouTube, Google announced that is has signed a definitive agreement to acquire mobile display ad firm AdMob for $750 million in stock.
According to the announce, there are three main benefits of the purchase including better user engagement for advertisers via AdMob’s mobile formats, publisher and developers being able to monetize more effectively and more relevant ads and ad-supported content for users.
In a statement, Google’s VP of Product Management Susan Wojcicki says, “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.”