admob logo1 Google: iAd will help the AdMob purchase.Reuters is reporting that what we’ve said all along: Apple’s iAd announcement is welcome news to Google.

Though the FTC is poised to investigate Google’s purchase of AdMob, the announcement shows “evidence of a highly competitive market” according to Google CEO Eric Schmidt.  This is obviously music to the ears of Google, as the word antitrust has been flung around pretty readily, ever since the purchase intent was announced.

The purchase, for the amount of $750 million is just a drop in the ocean of Google’s $23.7 billion profit from 2009, but the larger concern is what it could mean for Google in the realm of mobile advertising.  Even with iAd in the picture, Google’s purchase would bring about an advertising juggernaut.

Schmidt is no stranger to gigantic roles.  He has had to step away from a number of positions and deals, in the recent past, as they would have been fodder for antitrust investigation.  Though with Apple making a major purchase and having a solid foundation for iAd, it seems unlikely that the FTC would have any relevant concerns for a single-provider market with Google’s purchase.