In a 5 to 0 vote, regulators concluded that the $750 million deal is unlikely to harm competition in the emerging market for advertising on wireless devices.
The Federal Trade Commission says that while the deal raises serious antitrust issues, those concerns are overshadowed by Apple Inc.'s push into the market, too. Apple bought another online mobile ad leader, Quattro Wireless, for an undisclosed amount in January.
Friday's FTC approval paves the way for Google to extend its dominance of Internet marketing into the wireless arena.
"As a result of Apple's entry (into the market), AdMob's success to date on the iPhone platform is unlikely to be an accurate predictor of AdMob's competitive significance going forward, whether AdMob is owned by Google or not," the Commission said in a statement.
The commission did not that Google and AdMob had competed head-to-head for the last several years and that the competition had led to innovations which "allowed mobile publishers to keep a large share of the revenue generated from the sale of their ad space." The statement also noted that the companies have economies of scale that afforded them an advantage over smaller rivals.
You can read more has on the announcementhere.