It looks like Apple is getting ready to take on Google in the mobile ad space as the latter had recently purchased AdMob for $750 million. Quattro Wireless, a direct competitor of AdMob, will be picked up by Apple for a cool $275 million according to BoomTown. The company has already raised approximately $30 million in venture capital funding since starting in 2006 and has worked with big names like the NFL, CBS and Univision. Quattro Wireless has also had a presence on mobile web and in-app ads on the iPhone and Android as well. It will be very interesting to see how mobile ads change in the future and where Apple plans to go with Quattro. So far, neither Apple or Quattro Wireless have confirmed or commented on the buyout but the rumor says the announcement will come very soon even possibly this morning.
UPDATE: It’s confirmed. Check out the confirmation email after the bounce.
Happy New Year from Quattro Wireless!
We are thrilled to let you know that Apple has acquired Quattro. We want to share with you our excitement about this news and what it means for our customers.
We have built our business by enabling advertisers to reach the right consumers across the mobile web and in applications. We remain focused on delivering more engaging, relevant and useful ads to mobile devices, and improving the measurement and execution of digital campaigns. Together with Apple, we look forward to developing exciting new opportunities in the future that will benefit our customers.
For now, the offerings and services you receive from Quattro Wireless will not change. We will continue to operate the Quattro Wireless network across all devices and platforms. Your client and support teams will remain the same, and you can continue to expect the world-class service we are proud to deliver to our customers.
We look forward to working with you during this exciting time.
Vice President, Mobile Advertising