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Google Inc.'s Acquisition of AdMob

Cas 9 20 2013 001
Cas publié dans la Revue internationale de cas en gestion, vol. 11, no 1
Auteurs : 
Langues : 
  • Anglais
Mots clés: 
  • Growth by acquisition,
  • Valuation
Année de production : 
2011
Date de dépôt : 
2013-04-15
Notes pédagogiques incluses : 
Oui
Résumé

This case describes Google's decision in November 2009 to purchase mobile advertising start-up AdMob in a cash-and-stock deal valued at $750 million. The objectives of the case are: to highlight the role of acquisitions as integral to Google's growth strategy; to explore the extent to which the perception and pricing of Google as a growth stock necessitates the continual search for new growth opportunities; to determine the drivers of growth in the online advertising market and different segments within that market; and to navigate the considerable challenges of valuing a potentially high-growth start-up both as a stand-alone firm and as an acquisition target.

Discipline principal : 
Finance
Discipline secondaire : 
Non disponible
Secteurs d'activité : 
  • Industrie de l'information et industrie culturelle
Provenance : 
Ailleurs
Type : 
Cas traditionnel 
Type de données pour la production du cas : 
Non défini
Lieu de l'événement : 
USA
Année de début de l'événement : 
2009
Année de fin de l'événement : 
2010
Taille de l'entreprise : 
$24 billion (2009)
Objectifs pédagogiques

The objectives of the case are:

  1. to examine how the perception and pricing of young technology companies such as Google impact management’s search for new and growing product markets;
  2. to highlight the role of acquisitions in Google’s growth strategy;
  3. to determine the drivers of growth in the online advertising market and different segments within that market; and
  4. to navigate the considerable challenges of valuing a potentially high-growth start-up both as a stand-alone firm and as an acquisition target.

This case can be used in either an undergraduate or graduate finance case course and can be completed in a two-hour class session.