In a move to boost its presence in mobile advertising, Apple late yesterday confirmed its purchase of Quattro Wireless, as news of the acquisition quickly spread across a host of Apple-hungry technology Websites.
Most of the Websites picked up on a Reuters report, as well as a post from All Things Digital, a Wall Street Journal-affiliated blog, suggesting the purchase price would be around US$275 million. Apple has not officially confirmed it paid this amount for Quattro.
Apple’s move into mobile advertising comes a few months after Google Inc. purchased AdMob, which is a direct competitor to Quattro Wireless, for US$750 million in November 2009. Google yesterday introduced its new – unlocked – smart-phone hardware, while Apple, on the same day, announced that “more than 3-billion apps have been downloaded from its revolutionary App Store by iPhone and iPod Touch users worldwide.”