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.
“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.
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