Quattro Confirms Apple Acquisition

Mobile advertising specialist Quattro Wireless has confirmed its acquisition by Apple Inc. (Nasdaq: AAPL) in a "Happy New Year" message on its Website.

Speculation that a deal was imminent emerged early Tuesday. (See Rumor: Apple to Buy 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," states the message, which was signed by Quattro's CEO, Andy Miller, who now holds the position of Vice President, Mobile Advertising, at Apple:

    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... We will continue to operate the Quattro Wireless network across all devices and platforms.
Apple has yet to formally announce the deal. No financial details have been issued by Quattro, though the price is expected to be about $275 million, much lower than the $750 million Google (Nasdaq: GOOG) spent on Quattro's rival, AdMob Inc. recently. (See Google Buys AdMob for $750M.)

Google and Apple are increasingly going head-to-head as rivals. The online search giant yesterday unveiled its own smartphone, the Nexus One, which will rival Apple's iPhone in the high-end mobile device market. (See Google Introduces 'Nexus One' Phone and Nexus One Won't Support AT&T's Fastest 3G Data Services.)

— Ray Le Maistre, International Managing Editor, Light Reading

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