Google has announced that it has acquired AdMob, a mobile advertising company, making it the strongest all-around player in mobile advertising. AdMob was a pure-play ad company and had expanded into mobile app advertising too. With this acquisition, Google hopes to enhance its existing expertise in mobile advertising and provide advertisers greater choice in this rapidly growing and competitive space.

Although Google had announced the $750 million all-stock deal to acquire AdMob six months ago, the Federal Trade Commission (FTC) had delayed the acquisition citing antitrust issues. However, Google’s interest in mobile advertising resulted in an increased credibility to mobile advertising. With the FTC nod, and the consequent deal, this integration should help increase ad and marketing dollars into mobile space.

Search remains the central focus of the Google-AdMob combo. However, the combo also plans to offer mobile display and text ads on mobile web sites. Susan Wojcicki, Google’s vice president of product management believes that mobile advertising can play a significant role in every single marketing campaign and aims to unleash agencies’ and advertisers’ creativity through the medium of mobile phone devices for better results and greater returns, with a vast choice for publishers and advertisers. She believes that marketers will sit up and take notice of mobile-specific capabilities and cash in on the value that mobile advertising provides.

With spending on the mobile ads space set to double in 2010 to $433 million, Google’s acquisition is sure to alter the growing mobile advertising market. Recently, Apple Inc. purchased AdMob rival Quattro Wireless.