WASHINGTON (AFP) - US antitrust regulators gave Internet search titan Google a green light to acquire mobile advertising network firm AdMob, saying the deal was unlikely to harm competition. The US Federal Trade Commission (FTC) on Friday closed its investigation of Googles proposed 750-million-dollar purchase of AdMob. Although the combination of the two leading mobile advertising networks raised serious antitrust issues, the agencys concerns ultimately were overshadowed by recent developments in the market, most notably a move by Apple Computer Inc. the maker of the iPhone to launch its own, competing mobile ad network, the commission said in a statement. As a result of Apples entry (into the market), AdMobs success to date on the iPhone platform is unlikely to be an accurate predictor of AdMobs competitive significance going forward, it said. Two consumer groups, Consumer Watchdog and the Center for Digital Democracy, had urged the FTC to block the takeover on antitrust grounds and said the deal also raised privacy concerns. Google hopes AdMob will help it more effectively extend its lucrative Internet advertising domain into the booming world of mobile devices. Its a huge win for Google and a huge loss for the rest of the people in the apps and mobile advertising business, said Mobile Streams chief executive Simon Buckingham, who has been in the mobile technology arena for 19 years. Its a shame. Its pretty much game over at this point. The FTC decision promises to cement Googles dominance of Internet advertising, according to Buckingham, whose company licenses and distributes mobile content from more than 150 providers. I find it difficult to see how anyone now can come in and challenge Google in the digital advertising space, Buckingham said. The champagne is no doubt flowing at Google. On the official Google blog, vice president of product management Susan Wojcicki said the decision is great news for the mobile advertising ecosystem as a whole. This benefits mobile developers and publishers who will get better advertising solutions, marketers who will find new ways to reach consumers, and users who will get better ads and more free content. The FTC made it clear that it is uncertain what effect the Google purchase of AdMob will have, according to attorney Samuel Miller, who specializes in antitrust and served as special counsel in a case brought against Microsoft by the US Department of Justice. He predicted that US and European regulators will watch what Google does after absorbing AdMob. All those agencies will continue to closely monitor Googles activities and the activities of the new merged enterprise to make sure prices dont go up and anti-competitive acts are not committed, Miller said. Even if they gave Google a pass now, it does not mean they wont challenge Google in the future. Last year, Google was forced to revise its legal settlement with authors and publishers over its digital book-scanning project amid objections from the US Justice Department. Google was also forced to abandon a proposed advertising agreement with Yahoo amid Justice Department antitrust concerns. On Thursday, Google chief executive Eric Schmidt vowed if the acquisition were not allowed to go through well fight about it. You have Apples proprietary product, he said in an interview with the CNBC television channel. Plus five or six companies that are all competing for parts of that mobile ad platform. Apple, which bought AdMob rival Quattro Wireless in January, unveiled a mobile ad platform last month called iAd which allows software developers or advertising agencies to embed ads directly into applications offered for the iPhone, the iPod Touch and the iPad. AdMob was founded in 2006 by Omar Hamoui as a California technology startup focused on building tools that let Web advertisers follow potential customers onto mobile devices. We are extremely pleased with todays decision from the Federal Trade Commission to clear Googles acquisition of AdMob, Hamoui said. Our focus is now on working with the team at Google team to quickly close the deal.