Google completes AdMob acquisition, ready to take on Apple's iAds

May 27, 2010: 5:53 PM ET

Three days after the FTC blessed the $750 million deal to buy AdMob, Google has announced  the deal is closed.

In a post on the Official Google Blog, Susan Wojcicki, Vice President of Product Management, said that Google was moving fast to integrate Omar Hamoui's Admob team into Google's advertising unit as quickly as possible.  They are trying to make up some of the time the FTC's long look into Google's business had expended.

We'll now begin the process of bringing our products and teams together in the best way, and building new products and features together. We're working to make this integration happen as fast and as seamlessly as possible. We'll actively keep our clients up-to-date as we bring our businesses together — stay tuned!

Google (GOOG) is moving fast in the mobile advertising space as new rival Apple (AAPL) is rapidly expanding its new iAds service to a number of big clients.

Google also made a quick note about its AdMob stock repurchase plan:

Stock Repurchase: As previously announced, Google intends to repurchase in the open market a number of shares equal to the number of shares issued in the transaction and issuable upon exercise of outstanding options to purchase common stock issued by AdMob. The repurchase program is expected to commence shortly after the completion of the acquisition. The repurchases will be funded from available working capital.

Here's what AdMob's customers got today:

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Seth Weintraub
Seth Weintraub

Google went from searching the Web to worming its way into nearly every facet of business and government. Seth Weintraub unveils where the company is going, who it's competing with, who it's about to compete with and how market forces push the company to veer or adhere to its Don't Be Evil motto. For 15 years, Weintraub was a global IT director for a number of companies before becoming a blogger.

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