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Google closes AdMob deal, will buy $750M in stock

Google closes AdMob deal, will buy $750M in stock

Google has completed its $750 million acquisition of mobile advertising network AdMob and will start buying some of its stock as a result.
The company officially took control of AdMob on Thursday. The purchase closed less than a week after the Federal Trade Commission approved the deal following a six-month investigation into whether Google would gain too much control over mobile ads. The agency concluded that Apple's recent expansion into mobile ads will ensure ample competition.
AdMob, founded four years ago, has about 160 employees.
The takeover is being paid in Google stock. Google intends to replenish the shares in its corporate treasury by buying $750 million of its stock on the open market.
At Thursday's closing price of $490.46, Google would buy about 1.5 million shares.


Updated : 2021-01-22 15:27 GMT+08:00