It's a good day when someone at Google can point out the obvious, but Vice President of Corporate Development David Lawee told attendees at the Stanford Accel Symposium that acquiring Android Inc. was the "best deal ever" for the search behemoth.
Lawee commented on the Android founder, Andy Rubin, saying, "I saw this guy in my building for two years, walking his dog, and I was like, I hope this guy does something." During his time at Google, Rubin shepherded the OS and helped it become a serious competitor to Apple's iOS, RIM's BlackBerry OS, and Microsoft's Windows Mobile.
The open source smartphone operating system company was bought for an estimated $50 million in 2005. Thanks to pairing the free OS with the recently acquired AdMob advertising engine, Google is expected to make $1 billion from this dynamic duo next year.
These comments come in the wake of recent observations from CEO Eric Schmidt showing how Android could bring in $10 billion annually. Suddenly $50 million seems like pocket change. Not a bad deal at all.
Source: Venture Beat