Google acquires AdMob for $750 million

Google has signed an agreement to acquire mobile advertising firm AdMob for $750 million.

Founded in 2006, AdMob has become a leading provider of mobile advertisements on both the iPhone and Android platforms, across both web-based properties and within applications.

According to a statement from Google, it believes the acquisition will enhance the company’s “existing expertise and technology in mobile advertising, while also giving advertisers and publishers more choice in this growing new area.” A letter from AdMob founder and CEO Omar Hamoui regarding the acquisition is available online.