Mountain View, Nov 9 (THAINDIAN NEWS) Search Engine major Google today announced that it has signed a substantial agreement to buy AdMob, which is a mobile display advertisement technology provider. The deal is set to be worth around $750 million in stock. This phenomenal acquisition will increase Google’s existing expertise by leaps and bounds. With this significant acquisition Google is set to set a trend in mobile advertising as well.

“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.”

This major acquisition in Google’s basket will help Google to make more effective and efficient tools for creating, serving and analyzing emerging mobile ads formats.

The advantages of this deal are many, as advertisers will get to increase their reach with AdMob’s ad formats. And the mobile users will get to see ads tailor-made to their specifications rather than just random ads, which may not be targeted for them.

“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.