Google Inc has won U.S. approval to buy mobile advertising rival AdMob, after months of delay and rumor that the search engine giant was headed for a court fight with government officials over the US$750 million transaction, Reuters reports.
The FTC said in a statement on Friday that it was concerned that two top mobile advertising networks were combining, but said Apple Inc’s entry into the market would mitigate the effects of the Google/AdMob powerhouse.
"The decision was a difficult one because the parties (Google and AdMob) currently are the two leading mobile advertising networks, and the commission was concerned about the loss of head-to-head competition between them," the FTC said in a statement.
Apple’s new platform for the iPhone and iPad - dubbed iAd - marked Apple’s first move into a small but growing market and comes shortly after its purchase of Quattro Wireless, the third largest mobile ad network, Quattro Wireless.
The commission said it believed Apple would quickly become a strong mobile advertising network competitor.
Google, which announced the deal in November, called the approval "great news" and said it would close "in coming weeks."
AdMob founder and Chief Executive Omar Hamoui said he was pleased with the decision and would work with Google to close the deal.
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