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google to place ads in free mobile apps, plans to serve ads in your dreams to soon follow UPDATED

The Big G is going to buy AdMob, a company that allows ‘em to plop ads onto your cellphones, for a mind-boggling $750 million.  We can all now look forward to having hilariously inappropriate contextual ads delivered to us day and night, no matter where we are!

[CUE DRAMATIC MUSICAL STING]

We truly do live IN THE FUTURE!

In all seriousness, the boys down at Mountain View made a pretty sharp move. The future of mobile computing favors the rise of the smart phone, and Google just bought the biggest player in the nascent mobile advertising sandbox.

In other news, the Goog is also planning on acquiring Gizmo5, a VOIP company.  If we take their Google Voice service, their ambitious Android OS platform, and the Chrome browser into consideration as well, we can only surmise that Brin and the boys are planning something big. Huge, even. Keep an eye out, folks. The mobile space is about to get infinitely more interesting in the coming months and years.

UPDATE: And this little story grows ever more interesting, as Silicon Alley Insider’s Harry Blodget states that Apple was seriously bidding on AdMob as well. In fact, SIA’s source hints that AdMob’s nearly absurd price was reached in order to outbid Jobs and company. Were the sunny lads from Cupertino strapping on their howitzers and preparing for war? Curiouser and curiouser…

talk to us.