Friday, May 21, 2010

FTC Clears Google/AdMob Deal

The Federal Trade Commission said today that it has cleared Google's proposed acquisition of mobile advertising firm Admob. The FTC said that it concluded that the deal is "unlikely to harm competition" in the emerging market for mobile advertising networks. Google said in November that it would buy Admob, in a deal worth $750M in stock. AdMob is backed by Accel Partners, DFJ Growth Fund, Northgate Capital, and Sequoia Capital.