Google has announced an agreement to acquire AdMob, the mobile ad network and technology provider, for $750 million in stock.

The move increases further Google’s share of the advertising market after 2007’s key acquisition of DoubleClick and the mobile market after the launch of its rapidly growing operating system, Android. With mobile advertising still in its infancy and lagging behind the growth in media consumption on mobile devices (as we saw with the desktop internet), this gives Google a significant early share of the market both in terms of ad volumes and ad technologies.