Google is poised to acquire AdMob, a company that provides ads on mobile phones. The deal is ranked as the third biggest ever undertaken by the company and has been set for $750 million, payable in stocks.

Google already has a considerable hold on the online advertising world. The buying of AdMob signals its interest to capture the advertising market in the mobile world as well.

Display of advertisement on mobile phones is in a nascent stage, but it is growing fast. Google’s acquisition of AdMob would give this growth a strong boost.

Despite the tremendous growth in mobile usage and the substantial investment by many businesses in the space, the mobile web is still in its early stages. We believe that great mobile advertising products can encourage even more growth in the mobile ecosystem. That’s what has us excited about this deal