Google has acquired the mobile display ad company AdMob for $750 million in stock, according to a post on the company's official blog.
AdMob's mobile ad network runs across thousands of websites, serving ads from big-name brands such as Ford and Coca-Cola. While much of the company's attention goes to serving display ads on iPhones, it recently started a unit focused on Android smartphones, according to CNET.
Google's mobile search traffic has grown five times over the last two years, and the search giant hopes improved advertising will encourage more growth in the mobile sector.
We can expect even more acquisitions from Google in the near future, as CEO Eric Schmidt recently stated that the search giant will buy a company every month this year.
