Federal Trade Commission clears Google’s purchase of mobile advertising service AdMob
By APFriday, May 21, 2010
FTC clears Google purchase of mobile ad service
WASHINGTON — Federal regulators are clearing the way for Google to buy a mobile ad service called AdMob. Regulators concluded that the $750 million deal is unlikely to harm competition in the emerging market for advertising on wireless devices.
The Federal Trade Commission says that while the deal raises serious antitrust issues, those concerns are overshadowed by Apple Inc.’s push into the market, too. Apple bought another online mobile ad leader, Quattro Wireless, for an undisclosed amount in January.
Friday’s FTC approval paves the way for Google to extend its dominance of Internet marketing into the wireless arena.
Shares in Google, which is based in Mountain View, Calif., rose $4.55, or 1 percent, to $479.56 in midday trading Friday. Apple shares jumped $4.06, or 1.7 percent, to $241.82.
