Google Announces Acquisition of AdMob

Google is on the prowl providing some needed exits for tired and weary venture investors. Mobile advertising is no doubt going to be a big piece of that.

Via the Official Google Blog here:

We're happy to announce today that we have signed an agreement to acquire AdMob, a mobile display advertising company based in San Mateo, CA. AdMob is a great Silicon Valley story — founded in 2006 by Omar Hamoui when he couldn't find good ways to generate traffic for his mobile site. Over the past few years, Omar and his talented team have built a thriving company with great mobile advertising products, and we are looking forward to having them join the Google team and work with us on the future of mobile advertising.

We've written in the past about how mobile phones are becoming an increasingly indispensable part of our daily lives, and we continue to see how great devices with full Internet browsers and vibrant app marketplaces are driving an explosion of usage.