Google has announced its acquisition of AdMob, a mobile advertising company based out of San Mateo, CA that specializes in targeted mobile ads and analytics. Through a site established by Google to provide details about the acquisition, the search giant compared its acquisition of AdMob to similar acquisitions of mobile ad companies by AOL, Microsoft, and Yahoo in the past few years. The company also indicated that the acquisition would expand on its current efforts in mobile advertising, which so far have focused largely on search ads.
This acquisition comes after rumors earlier this year that AdMob, which was founded in 2006 by Omar Hamoui, was seeking funding in preparation for an IPO some time in the next year. According to Google, the company was acquired for $750 million in stock.