“AdMob Inc. was approached by Apple Inc. about an acquisition before the company agreed to a $750 million offer from Google Inc., according to people familiar with the matter,” Serena Saitto, Brian Womack and Connie Guglielmo report for Bloomberg.
“Apple contacted AdMob a few weeks before Google made its bid, said one of the people, who declined to be identified because the negotiations weren’t public,” Saitto, Womack and Guglielmo report. “AdMob, based in San Mateo, California, sells ads that appear on mobile phones.”
“The interest in AdMob highlights the increasing competition in the mobile-phone market between Apple, maker of the iPhone, and Google, the most popular search engine. Google Chief Executive Officer Eric Schmidt resigned from Apple’s board in July after serving for three years. At the time, Apple CEO Steve Jobs said that move was necessary because Google was entering ‘more of Apple’s core businesses,'” Saitto, Womack and Guglielmo report.
“Together, AdMob and Google will be the largest mobile- advertising company, with about 30 percent to 40 percent of the market, according to Karsten Weide, an analyst with researcher IDC in San Mateo,” Saitto, Womack and Guglielmo report. “Buying AdMob would have allowed Apple to expand into online advertising, a strategy that Nokia Oyj is pursuing, Weide said.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]