With $750m stock, Google plans to buy AdMob, a savvy young company that delivers ads to mobile phones.  Google just made the announcement, and it’s big news for the world of mobile communications.  It really appeals to me and my love for mobile phones, and it makes me chuckle as I think about the growing rivalry between Apple and Google.

Over the past few months, I had heard speculation about Google entering the mobile advertisement game with more strength.  So this purchase is not shocking.  But make no mistake, it is a huge development.   This could help push mobile development into the spotlight, specifically helping Android grab a stronger developer base.

According to the New York Times, the deal is likely to go through in the next couple of months, providing things go smoothly.  I think it’s safe to assume that it will be a couple of years until AdMob is completely integrated with Google’s own AdWords.  The combination will be formidable.

Google is also acquiring the data behind the AdMob service.  That’s a critical aspect of the deal, as Forbes points out.  In fact, the real strength of this deal is that it combines Google’s own resources with AdMob’s data and their powerful advertising platform.  The combination should push Google over the top in mobile advertisements.

While I’m not entirely excited about the idea of seeing more advertisements on my smart phone, I recognize that this is a huge step forward for Google.  Mobile communications is a rapidly growing space, and this acquisition shows how Google is maneuvering into a dominant position.  One sure consequence: mobile application developers (especially those working with Android) now have even more incentive to work in this space and to concentrate on cleaner interfaces for advertisements.