Apple to Acquire Mobile Ad Platform Quattro Wireless for $275 Million
Google made huge waves in the mobile industry when it acquired mobile ad network AdMob for $750 million. Now Apple, which is increasingly in direct competition with Google, has countered its new rival.
According to All Things Digital, Apple has entered into an agreement to acquire Quattro Wireless, a mobile ad platform similar to AdMob but smaller in scale. The announcement may come as soon as tomorrow.
We can’t say we’re surprised by the move; our sources have told us that Apple was in the running for AdMob, but Google snatched it away with a higher bid. Apple couldn’t allow its rival to be the sole possessor of mobile ad technology, and thus acquiring a smaller but growing mobile advertising network was the next logical move. We’ll bring you more details as we learn more.
