WASHINGTON, December 24, 2009 – The Federal Trade Commission this week asked Google for more information on the company’s plans to acquire AdMob.
“That said, we know that closer scrutiny has been one consequence of Google's success, and we've been talking to the U.S. Federal Trade Commission over the past few weeks. This week we received what's called a "second request," which means that the FTC is asking for more information so that they can continue to review the deal,” said Paul Feng, a group product manager at Google, in a Wednesday blog update.
“While this means we won't be closing right away, we're confident that the FTC will conclude that the rapidly growing mobile advertising space will remain highly competitive after this deal closes. And we'll be working closely and cooperatively with them as they continue their review,” said Feng.
Google announced on November 9 that it had signed a definitive agreement to acquire AdMob, a mobile display ad technology provider with more than 15,000 mobile websites and applications in its network, for $750 million in stock. “This acquisition will enhance Google's existing expertise and technology in mobile advertising, while also giving advertisers and publishers more choice in this growing new area,” the company said at the time. Google states on its Web site that currently it “makes a very small amount from mobile ads relative to our overall revenue, but the prospects for this space are excellent.”
Google was hoping the deal would be wrapped up in the “next several months” but acknowledged that one consequence of the company’s success has been closer regulatory scrutiny. The company said it does not believe the purchase of AdMob “requires regulatory review outside the United States.”
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