Apple acquiring Quattro Wireless for $275 million
Apple is poised to announce it will acquire mobile advertising network Quattro Wireless for $275 million. Citing confirmation from multiple sources, The Wall Street Journal reports Apple will make an official announcement as soon as today. So far, the computing giant has declined to comment on the pending deal, with Quattro Wireless also remaining mum.
Founded in 2006, Quattro employs its proprietary Q Elevation targeting platform to deliver advertising across thousands of mobile websites and iPhone and Android applications. Clients include Ford, Procter & Gamble, NetFlix, Viacom, Disney, Visa and Microsoft--network partners include Gawker, the National Football League, Univision, CBS Interactive and Time Inc. According to mobile advertising estimates published in December by research firm IDG, Quattro generated $20 million in 2009, controlling 7 percent of the overall U.S. market.
The Quattro acquisition follows on the heels of Google's late 2009 agreement to purchase rival mobile advertising network AdMob for $750 million. Multiple insider sources indicate Apple also was in talks to acquire AdMob, a defensive move to keep Google from obtaining inside information on the workings of its App Store.
For more on the Apple/Quattro Wireless deal:
- read this Wall Street Journal article