Google announced that it has agreed to buy AdMob, a provider of display ad technology for mobile phones, for 750 million U.S. dollars in stock. The Internet search giant said will enhance its expertise and technology in mobile advertising. According to Google press release, the deal will help Google in its efforts to develop more effective tools for creating, serving and analyzing emerging mobile ads formats.

Google believed the deal will also give advertisers and publishers more choice in the growing area of mobile advertising while improving users’ mobile experience with more ad-supported content and applications. “Mobile advertising has enormous potential as a marketing medium and while this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time,” said Susan Wojcicki, Google’s vice president of product management. She also expressed warm welcome to AdMob.

“The mobile industry has had no shortage of creative energy, amazing products, and talented entrepreneurs, but until now, it has always felt like those of us involved in this space played second fiddle to our online brethren. I believe that time is over ” Omar Hamoui, chief executive officer and founder of AdMob, said in a statement posted on the company’s website.