Search giant Google has completed its acquisition of mobile advertising company AdMob, after the deal was approved by the Federal Trade Commission.
In a blog post, the company said (opens in new tab) it had officially completed the acquisition, and was looking forward to work with the AdMob team to develop new and better products.
Susan Wojcicki, Vice President of Product Management wrote: “It’s clear that mobile advertising is growing fast with lots of businesses innovating at great speed. Every day, marketers are looking to take advantage of the mobile-specific capabilities, extended reach, great returns and value that mobile advertising provides.”
Citing mobile advertising as a core part of product marketing, Google explained that AdMob will allow advertisers to deliver cutting-edge advertisements to mobile devices and generate a significant amount of revenue in the process.
Bizarrely, the FTC's approval of the Google-AdMob deal comes largely down to the launch of the rival iAd mobile advertisement service, which Apple recently launched to compete with Google in the mobile advertisement market. Regulators believed that competition from Apple would ensure Google did not have a monopoly in the mobile advertising market.